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Gas Prices Fall in Time for Thanksgiving Holiday

 

AAATampa, FL – When 41.9 million Americans fill-up the car for a Thanksgiving road trip, they will pay the cheapest pump prices for the holiday since 2008. The average price of gasoline nationwide is $2.08, 72 cents lower than last year’s average of $2.80 on Thanksgiving Day.

“Motorists are saving around $11 for a full tank of gas compared to this time last year,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “That gives travelers more money to spend on lodging, shopping and dining out. For those on the fence about taking a trip, these low gas prices could be all the incentive one needs to hit the road.”

2015 Thanksgiving Day Gas Prices

The national price of gasoline has declined for 16 consecutive days, for a total discount of 14 cents. Meanwhile, gas prices in the southeast steadily slipped one cent a day during the past week. Average prices are $2.11 in Florida, $2.01 in Georgia, and $1.91 in Tennessee. Last year, the average prices on Thanksgiving Day were $2.79 in Florida, $2.71 in Georgia, and $2.59 in Tennessee.

Historically, gasoline demand tends to decline during the month of November, and with the autumn refinery maintenance season nearing completion, pump prices are expected to move lower to close out the year, barring any unanticipated outages or supply disruptions.

Pump prices are also pushing lower because of the falling price of oil. Global oil supplies continue outpacing demand, keeping downward pressure on oil prices. Oil prices averaged $40.82 last week, the lowest weekly average since August. During the same week last year, a barrel of oil averaged $35.00 higher, and gasoline was 73 cents more expensive.

Gas prices are still adjusting to the recent drop in oil prices. The last time oil hovered around $40.00 a barrel for an extended period of time was in January 2009. During that month, gas prices averaged $1.79 nationwide, $1.83 in Florida, $1.68 in Georgia, and $1.66 in Tennessee.

Historically, pump prices fall an average of 16 cents from November thru December. If prices continue on their current rate of decline, gasoline could dip below $2.00 a gallon before Thanksgiving Day in Georgia, and during the first week of December in Florida.

Current and Past Price Averages

Regular Unleaded Gasoline

Sunday Saturday Week Ago Month Ago Year Ago
National $2.078 $2.088 $2.166 $2.224 $2.828
Florida $2.105 $2.115 $2.183 $2.154 $2.823
Georgia $2.014 $2.025 $2.094 $2.090 $2.753
Tennessee $1.913 $1.922 $1.983 $1.974 $2.619
Click here to view current gasoline price averages

 

AAA updates fuel price averages daily at http://www.fuelgaugereport.aaa.com/. Every day up to 120,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.

About The Auto Club Group

The Auto Club Group (ACG) is the second largest AAA club in North America.  ACG and its affiliates provide membership, travel, insurance and financial services offerings to over 9 million members across eleven states and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Dakota, Tennessee, Wisconsin, Puerto Rico and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana.

ACG belongs to the national AAA federation with more than 55 million members in the United States and Canada and whose mission includes protecting and advancing freedom of mobility and improving traffic safety.


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