Gas prices could hit lowest Thanksgiving level in years

Nationally average gas prices could fall to their lowest levels in years around Thanksgiving, according to new estimates.

On Monday, AAA reported that the national average gasoline price was Approximately $3.31 per gallon — down nearly 10% from the average of $3.67 per gallon during the same period last year. According to one study, the national average of gasoline prices has been declining or flat for about 60 consecutive days. AAA press release last week.

As of Monday, there are 11 states with averages below $3 per gallon: Texas, Oklahoma, Arkansas, Missouri, Iowa, Louisiana, Mississippi, Tennessee, Alabama, Georgia and South Carolina. AAA cited falling oil prices as well as a decline in gas demand as reasons.

“Drivers can expect lower gas prices this Thanksgiving,” AAA spokesman Andrew Gross said in a statement last week.

a new analysis A report from GasBuddy, an organization that tracks gas prices, predicts that gas prices could fall below $3 a gallon in five more states by Thanksgiving. The analysis also estimates that gas demand could continue to decline over the next week or two, meaning the U.S. “could see the lowest gas prices since 2021 by Christmas.” It means.

“As millions of Americans prepare to head out for Thanksgiving, the national average remains in the dark for the longest time in more than a year as gas prices fall to their lowest since January,” said Patrick de Haan. “It has recorded a consecutive decline, reaching nine consecutive weeks.” Head of Petroleum Analysis at GasBuddy. “Currently, GasBuddy counts more than 65,000 stations with prices below $2.99 ​​per gallon, but in 11 states the average price is below $3.”

The news comes as this Thanksgiving is expected to be perhaps the busiest travel season ever. The US Transportation Security Administration (TSA) estimated that 30 million passengers will pass through airport security checkpoints from November 17th to November 28th.

Additionally, AAA expects most Thanksgiving travelers to drive to their destinations.that predicted Approximately 49.1 million drivers may be on the go in time for their vacation plans.

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