The average retail gasoline prices in Chattanooga increased another 1.6 cents per gallon in the past week, rising to an average of $2.52 per gallon, according to GasBuddy's daily survey of 170 gas outlets in Chattanooga. Based on the AAA Leisure Travel Index, airfares are 7% lower this Memorial Day weekend than they were a year ago. WTI hit new multi-year highs this week, closing above the $70 threshold four days this week ($20 more than one year ago).
Experts say prices at the pump are still well below the all time high of $4.11 a gallon, in 2008.
It now costs the average motorist $42 for a full tank of gas, an increase of $7 from a year ago.
Even as gas prices rise like outdoor temperatures, AAA still expects an additional 2 million people will take to planes, trains, automobiles and other modes of transportation.
"Higher gas prices will not be enough to keep travelers home this Memorial Day weekend", Vicky Evans, assistant vice president of AAA travel sales development, said in a press release.
AAA says gasoline inventories in the Great Lakes and other parts of the central US have declined steadily for eight weeks.
If that prediction holds true it would be a almost five percent more than past year and the most since 2005, according to AAA.
If you haven't filled up the tank yet this week, you may be surprised to see prices nearing $3 per gallon.
A year ago, Omaha was averaging $2.24 a gallon, Nebraska, $2.29, and Iowa, $2.26.
Gas prices in the Lima region have gone down 3.7 cents since Sunday, according to prices reported to GasBuddy.com.
That is nearly 5 percent more than 2017, and the most in more than a dozen years. Travelers will also save on AAA Three Diamond hotels, which are trending 14 percent less expensive than previous year, with an average rate of $186 nightly.
According to AAA's first travel forecast of the summer, almost 5.2 million Californians are projected to travel over the upcoming three-day weekend.