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Mon December 17, 2012
Motorists Enjoy Holiday From High Gas Prices
LEXINGTON, Ky. - Gas prices hit their lowest levels of the year Monday just in time for what analysts expect will be the busiest Christmas traveling season in six years.
The national average fell below the previous low for the year, $3.28, on Monday. Kentucky’s average sits at $3.14.
"Demand continues to be quite low and the stocks, the inventory, is quite solid, except for some places on the East Coast," says Christopher Oakford with Triple A.
It’s the second year in a row, however, Americans have spent a record amount on gas. Still, Oakford says analysts anticipate more travelers will take to the road this holiday season.
"This is really the highest we've been since the economic downturn in 2008 and we're not far the decade high mark seen in 2006 and 2007," he says.
Triple A estimates that 93 million Americans will travel 50 miles or more during the holiday period.