Gas prices drop ahead of holiday

Arkansas motorists have something to be thankful for this Thanksgiving.
Arkansas motorists have something to be thankful for this Thanksgiving.(WENDELL FRANKS)
Published: Nov. 21, 2022 at 11:55 AM CST
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JONESBORO, Ark. (KAIT) - Arkansas motorists have something to be thankful for this Thanksgiving.

GasBuddy.com reported Monday that average gas prices in the last week fell 10.3 cents a gallon to $3.10.

As of Nov. 21, prices are 19.7 cents lower than a month ago but 7.9 cents higher than a year ago.

The national average price fell 11.9 cents a gallon in the last week to $3.64. The national average price of diesel fell 6.7 cents to $5.28 a gallon.

Patrick De Haan, head of petroleum analysis for GasBuddy.com, called the drop “an incredible turnaround.”

While he expected some states to post declines in gas prices, De Haan said he did not foresee “every single state” hopping on board.

“It’s terrific news as motorists prepare for Thanksgiving travel,” he said. “Everyone will be seeing relief at the pump this week, with even more substantial declines on the way as oil prices plummeted last week to briefly trade under $80 per barrel.”

Should oil prices remain steady, he predicts the national average could drop to $2.99 a gallon around Christmas.

“Certainly the gift that every motorist is hoping for,” he said. “Drivers shouldn’t be in a rush to fill up as prices will come down nearly coast-to-coast into the heavily traveled Thanksgiving holiday.”

To find the cheapest gas wherever your travels take you, visit the Region 8 News Pump Patrol.