People traveling this week for Thanksgiving will see sizeable savings in fuel costs. Prices that had been on the decline crept up to $2.99 a gallon in some areas over the last couple of days. GasBuddy.com Senior Petroleum Analyst Patrick DeHaan says prices are still lower than this time last year and should continue to fall.
“Throughout the week prices will be declining through Thanksgiving Day weekend and that’s certainly going to be great for motorists hitting the road,” said DeHaan.
DeHaan says prices during Thanksgiving weekend haven’t been this low since 2009. He adds the reason for the decline in prices is from the rise in U.S. domestic oil production. That has lead the Middle East to cut prices voluntarily to regain lost market share. DeHann says prices over the next couple of months should stay low and create more saving opportunities for motorists during the holiday season.