Retail gas prices at near record highs for Thanksgiving
Although retail gasoline prices have fallen in recent weeks, the national average of prices on Thanksgiving will come close to breaking a record for the highest prices ever on Thanksgiving, according to a petroleum analyst.
“While gasoline prices have dropped in the last month and a half, the national average will still come close to breaking a record — the highest ever national average for Thanksgiving,” said Patrick DeHaan, GasBuddy.com senior petroleum analyst.
DeHaan said that does not bode well for the remainder of the year. “I don’t really see how gas prices could greatly improve between now and Christmas, given the new military action in The Middle East, and other pressures. It’s all but certain the national average will not drop under $3.25 per gallon, which could lead to a perilous start to 2013.”
Average retail gasoline prices in Iowa have fallen 4.7 cents per gallon in the past week, averaging $3.26/gallon Sunday, Nov. 18. This compares with the national average which has fallen 3.2 cents per gallon in the last week to $3.43/gallon, according to the gasoline price website IowaStateGasPrices.com.
Including the change in gas prices during the past week, prices yesterday were 1.9 cents per gallon lower than the same day one year ago and are 32.4 cents per gallon lower than a month ago. The national average has decreased 26.4 cents per gallon during the last month and stands 6.5 cents per gallon higher than this day one year ago.