The Car and Truck Fleet and Leasing Management Magazine

Gasoline Prices Fall Ahead of Thanksgiving

November 21, 2016

Photo via Wikimedia.
Photo via Wikimedia.

The average price of a gallon of unleaded gasoline fell to $2.14 on Nov. 21, which marks the second-cheapest gasoline price since 2008 for the Thanksgiving Day holiday, according to AAA.

Gasoline prices fell three cents for the week and nine cents for the month. Drivers have pocketed significant savings over the past year, as pump prices are only five cents higher than a year ago.

The decline comes amid fluctuations in the oil market, as OPEC is considering an agreement to reduce or freeze production, which could include a production cap for Iran. That country has not been supportive of an agreement that will curtail the amount of oil they produce.

The West Coast remains the most expensive region to buy gasoline in the country, led by Hawaii ($2.86), California ($2.70), Washington ($2.63), Alaska ($2.61), Nevada ($2.47) and Oregon ($2.45), AAA reports.

Average gas prices are below $2 per gallon in 12 states today including Oklahoma ($1.85), Missouri ($1.90), Arkansas ($1.90), Kansas ($1.90), Texas ($1.92), Mississippi ($1.95), Alabama ($1.95), Minnesota ($1.95), South Carolina ($1.96), Tennessee ($1.96), Louisiana ($1.97) and Virginia ($1.99).

Federal fuel data shows a similar trend. The gallon price average fell 2.9 cents to $2.155 for the week ending Nov. 21. That price is 6.1 cents higher than a year ago. Meanwhile, the average price of diesel fell 2.2 cents to $2.421. Diesel is 2.4 cents lower than a year ago.

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