Gas Prices Should Decline Through Thanksgiving Holiday

November 20, 2012

Although gas prices are expected to fall throughout the Thanksgiving holiday, the rate of decrease is expected to slow as violence in the Middle East has resurfaced concerns of a supply disruption in the region. If tensions continue to escalate between Israel and its neighboring countries, it could reverse the downward trend in oil and gas prices seen during the past few weeks.

According to AAA’s Manager of Regulatory Affairs Avery Ash, gas prices should continue to drop up until Thanksgiving.

“AAA predicts that the national average price will be between $3.25 to $3.40 by Thanksgiving, and as low as $3.10 at the end of the year. Lower oil prices have played a key role in the decline of gas prices”, said Ash.

However, economic news and fuel demand remain bleak in some of the world’s largest oil-consuming countries. If Mideast tensions are eased, motorists can expect gas prices to decrease as initially forecast throughout the end of the year.

The national average price of regular unleaded gasoline is $3.42, 2 cents less than last week. Georgia’s average price of $3.25 increased 2 cents from last week, respectively.

According to Motortrend.com, the lowest price for gasoline in Elbert County still sits at $3.28; in Wilkes County the price is down to $3.24, which is the first time in over four months that the price of gas has been lower in Wilkes County than it has in Elbert County.

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