AAA projects that 43.5 million Americans are expected to take a road trip this Thanksgiving and drivers will pay the second-cheapest Thanksgiving gas prices since 2008, when the national average was $1.85. Today’s national average price of $2.14 per gallon represents a savings of three cents per gallon versus one week ago and nine cents per gallon on the month. Significant yearly savings persist and pump prices are only five cents higher than compared to last year.
Retail averages have fallen steadily since November 6 for a total savings of eight cents per gallon. The national average is expected to near $2.00 a gallon by the end of the year.
OPIS reports that BP's 430,000-b/d Whiting refinery in Indiana is wrapping up its planned maintenance that first started in September. All units are expected to be back in production by the end of the month.
Markets rallied early Monday morning and oil prices hit their highest point in three weeks as continued reports of an OPEC production agreement circulated. At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate was up 27 cents to settle at $45.69 per barrel.
This week’s average prices: Northeast Ohio Average: $2.074
Average price during the week of November 14, 2016: $2.009
Average price during the week of November 16, 2015: $1.914
The following is a list of the average price of the unleaded self-service gasoline in various areas:
$2.140 New Philadelphia