The Week

As drivers in Maryland and across the country prepare for a Thanksgiving road trip, they will find that gas prices have remained fairly stable, even dipping a penny or more on the week in some regions, although Western Maryland experienced an uptick.  Salisbury experienced the largest weekly decrease of five cents per gallon.

Today’s national gas price average is $2.56 per gallon, which is unchanged from last week, nine cents higher than one month ago and 41 cents higher than this time last year.

Maryland’s average cost at the pump is pricing five cents lower than the national average at $2.51 per gallon. The state’s average reflects a penny decrease from a week ago, a 13 cents rise compared to last month, and a 33 cents increase over last year’s price.

At the close of NYMEX trading Thursday, West Texas Intermediate (WTI) crude oil settled at $55.14 per barrel, $2.03 lower than the previous week. Oil prices rose last week as a result of concerns over tension between regional powers in Iran and Saudi Arabia. This week, prices trended lower as rising U.S. crude oil inventories and decreased demand forecasts continued to weigh on the market. Traders will continue to keep an eye on any supply disruptions in the Middle East, U.S. production and the impact it has on global supply and demand.

CURRENT AND PAST GAS PRICE AVERAGES 

Regular Unleaded Gasoline

 The Weekend

“Though AAA expects prices at the pump to drop five to ten cents by Thanksgiving weekend, travelers taking to the roads will be paying the highest gas prices since the 2014 holiday,” said Ragina Cooper Averella, Manager of Public and Government Affairs for AAA Mid-Atlantic. “However, as colder temperatures become the norm and gasoline demand decreases, drivers should see prices start to slowly dip heading into the end of the year.”

The Week Ahead

Motorists will be paying the highest gas prices for the Thanksgiving holiday since 2014.  However, AAA expects some relief at the pump for the holiday, as gas prices are anticipated to drop between five and 10 cents by Thanksgiving weekend.  This will be grateful news for the over 45 million Americans, and 967,000 Marylanders, that are expected to drive to their holiday destination.

Motorists can expect the roads to be the most congested on the Wednesday prior to the holiday, and the Sunday after Thanksgiving, as most travelers head home to return to school and work on Monday.  

AAA has a variety of resources to help motorists save on fuel:

• Fuel Price Finder (AAA.com/fuelfinder) locates the lowest fuel price in your area. 
• AAA Gas Cost Calculator (GasPrices.AAA.com/AAA-gas-cost-calculator/) helps budget travel expenses. 
• TripTik Mobile (AAA.com/mobile) plots fuel prices along your travel route. 
• AAA's Member Rewards Visa® Credit Card (AAA.com/financial/AAAvisa.htm) accumulates double points on fuel purchases. 

Next Weekend Gas Watch: Friday, November 24, 2017

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AAA provides automotive, travel and insurance services to 57 million members nationwide and more than 937,000 members in Maryland.  AAA advocates for the safety and mobility of its members and has been committed to outstanding road service for more than 100 years.  The not-for-profit, fully tax-paying member organization works on behalf of motorists, who can now map a route, find local gas prices, discover discounts, book a hotel and track their roadside assistance service with the AAA Mobile app for iPhone, iPad and Android.  For more information, visit AAA.com.