Prices at the Pump Drop Before Thanksgiving Day Weekend

With the busiest travel week of the year right around the corner, Americans may be disappointed to learn that fuel prices across the nation are higher than they were a year ago, although lower than a few weeks ago.

The price of a gallon of gas has been falling in the past month. Forty-nine out of 50 states have reported a decline, and the national average fell five cents the past week.

The Midwest led the change, showing a drop of $0.088 per gallon from last week’s price, while the West Coast experienced a $0.041 decline, according to the U.S. Energy Information Administration. Meanwhile, the average price for a gallon of diesel also dropped this past week, by $0.027. The Rocky Mountain region experienced the steepest decline, with a $0.040 drop, while the Midwest saw a $0.038 decrease.

Although prices have been declining the past two weeks, the average is still higher, for the most part, than it was a year ago.

The average price for a gallon of diesel was down $0.039 year-over-year to $2.243. Around half the nation saw a drop in diesel costs, with the Midwest experiencing the sharpest decline, with a $0.107 drop from last year. Next was New England, where prices fell $0.062 to $2.482, followed by the Central Atlantic, which experienced a drop of $0.045. Regions of the country to see an increase in price, however, included the West Coast, where prices rose $0.062 to $2.757. The Gulf Coast experienced an increase of $0.012, while the Rocky Mountain region saw prices rise by $0.004.

(Photo: Accura Media Group)