Tennessee’s average price of a gallon of regular unleaded gas was $3.05 as of Sunday, a drop of 8 cents from the previous week’s figure, according to AAA.
Pump prices are forecast to decrease even more as millions prepare to take their holiday road trips, AAA predicts.
Gas prices have steadily declined since Nov. 1, when the national average was $3.51. The current national average is $3.26, 9 cents less than the price last week. Prices in the Southeast region have followed the same trend. On Nov. 1, regular unleaded gasoline averaged $3.34 in the region. Since then, the average has dropped 20 cents to $3.14.
"Although gas price averages are only a few cents shy of what motorists paid [this time] last year, prices are not expected to deter holiday travelers," Jessica Brady, AAA spokeswoman, The Auto Club Group, said in a release. "AAA forecasts more than 84 million Americans will hit the road for a holiday vacation this year and the good news is pump prices are expected to fall again this week. Some areas in the Southeast have already seen gas prices dip below $3 a gallon."
A barrel of oil settled Friday at $86.73 on the New York Mercantile Exchange, 80 cents more than the week prior.