Good news for the roughly 42 million Americans estimated to be traveling for Thanksgiving this year: pump prices are at their lowest for the holiday since 2008!
According to AAA, gas averages have fallen for 17 consecutive days for a total savings of 15 cents per gallon as of Nov. 23, with the national average at $2.07. The national average is expected to dip below $2 by Dec. 25. Already, more than half of U.S. stations are selling gas for less than $2 per gallon.
Midwestern refineries have continued to return to production following both planned and unplanned maintenance work, AAA pointed out. According to the U.S. Energy Information Administration, production in the region reached its highest rates in nearly two months, which has also helped gas prices recover in the region following recent spikes due to unexpected outages. With more supply entering the Midwest, Midwestern states are seeing the largest monthly declines.
Now 18 states are offering gas for less than $2 a gallon. In fact, Indiana ($1.82), Ohio ($1.83) and Oklahoma ($1.85) edged out Alabama ($1.85) and South Carolina ($1.85) as the nation’s least expensive markets for gas.
Hawaii ($2.83) continues to lead the market for the most expensive gas, followed as usual by California ($2.73).