National Average Gas Prices Spike Ahead of the Holidays
The national average for gasoline is 11 cents more expensive than last month, but 33 cents cheaper than last year.
The national average for gasoline is 11 cents more expensive than last month, but 33 cents cheaper than last year.
Since the beginning of November, U.S. gasoline demand has softened, and average fuel prices have remained flat at $2.16 on the week.
The national average price for gasoline increased on the week and is at $2.16, however, the average is still cheaper by 42 cents when compared to last year at this time.
National average diesel fuel prices were $2.50 per gallon as of Nov. 30, 2020, according to the U.S. Energy Information Administration. This uptick is higher than prices in late June and late August and is reaching peaks not seen since mid April.
Following the Thanksgiving holiday, the average national price for gasoline is at $2.12, two cents more than a week ago, but still down 46 cents from last year.
This Thanksgiving’s national gas price average is shaping up to be the lowest since 2015 at $2.10.
Despite the weekly increase, gas prices remain cheap both compared to last month and last year.
The national gas price average pushed a penny cheaper on the week to $2.11 following an increase in gasoline stocks and a dip in demand.
The largest fleet operating expense is fuel, which traditionally represents approximately 60% of all operating costs. However, the decreased miles driven by fleets during the pandemic was the No. 1 factor contributing to keeping fuel costs flat in 2020.
National average gas prices declined to $2.12 as crude oil prices have continued to decrease amid mounting concerns about the increase in global coronavirus cases and the reinstatement of lockdown policies in some countries.
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The rebound in automotive sales of 31% in the third-quarter of 2020 is led by growth in pickup trucks and SUVs, categories with the most advanced, fuel-efficient diesel options, notes the Diesel Technology Forum.
National average gas prices dropped to $2.16 as decreases in U.S. gasoline demand, supply and imports pushed the national and 44 state gas price averages cheaper on the week.
Fuel price trends were unhindered by Hurricane Delta, which made landfall in southwestern Louisiana as a category 2 hurricane.
That average is the same as a week ago, four cents cheaper than the start of this past September and nearly 50 cents cheaper than last year.
WEX Inc. moved its headquarters to the waterfront of Portland, Maine, in March, as the company entered a growth phase that has included three acquisitions this year.
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