Drivers fueling up ahead of Thanksgiving will benefit from falling pump prices, as the national average for a gallon of gasoline dropped 11 cents in the past week to $3.60. That’s the good news. Unfortunately, while lower, this week will see the highest Thanksgiving national average price since AAA started keeping records in 2000.
According to data from the Energy Information Administration (EIA), gas demand fell from 9.01 million to 8.74 million b/d last week. Meanwhile, total domestic gasoline stocks rose by nearly 2.2 million bbl to 207.9 million bbl. Increasing supply and fewer drivers fueling up have pushed pump prices lower. As demand remains low and stocks grow, drivers will likely see pump prices dip through the Thanksgiving holiday.
Today’s national average of $3.60 is 22 cents less than a month ago and 20 cents more than a year ago.
In Kentucky the average is $3.30, in the Lake Cumberland area Wayne County has an average of $3.26, Pulaski County at $3.19, Russell County is at $3.25, Clinton County at $3.40, and McCreary County is averaging $3.22 per gallon.