Prices at the Pump Drop Before Thanksgiving Day Weekend

By Jesse Sokolow on 18 November 2016
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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)