Gas Prices Fall Before Holiday Increase
The nation's drivers got a brief reprieve at the pump this month, but a tank of gas won't stay cheap for long with Thanksgiving weekend on its way.
Gas prices have fallen 5 cents a gallon overall in the last three weeks, to an average of $3.43 for regular unleeaded, according to gasbuddy.com's retail price tracking.
The Mid-Atlantic Triple A believes Thanksgiving may see gas prices go up for the holiday season, significantly more than it did in 2010, the Washington Post reported. It forecasts gas costing $3.40 per gallon, well above last year's $2.87 per gallon national average for Thanksgiving.
According to Trilby Lundberg's latest survey of over 2,500 gas stations, the prices have remained low despite an increase in the price of crude because of a weak economy and relatively unchanged unemployment figures.
This translates into falling demand, which acts as a brake on prices, Lundberg told CNN.
Lundberg's survey found the lowest gas prices in Albuquerque, N.M., at $3.06 a gallon, with Los Angeles, Calif., getting stuck with $3.83 per gallon.
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