Gas Prices Up 75-cents From a Year Ago

Press enter to search
Close search
Open Menu

Gas Prices Up 75-cents From a Year Ago

WASHINGTON -- The U.S. Energy Department this week said consumers are paying about 75 cents more for a gallon of gasoline than last year at this time, according to Reuters.

With Thanksgiving approaching, the national price for regular unleaded gasoline increased a penny over the past week to $2.64 a gallon, much higher than the $1.89 last Thanksgiving, the department's Energy Information Administration (EIA) said in its weekly survey of service stations.

The AAA auto club predicts 33.2 million Americans will travel more than 50 miles from home by car this Thanksgiving, up 2.1 percent from last year. Many are predicting an increase in auto travel to compensate for an expected decline in air travel this Thanksgiving.

The higher fuel prices reflect expensive crude oil, which has hovered near $80 a barrel for several weeks.
In its weekly price survey, the EIA found the West Coast had the most expensive gasoline at $2.88 a gallon, down 1.2 cents. By city, Los Angeles had the highest price at $3, down 1.3 cents, Reuters reported.

The Gulf Coast states had the lowest regional price at $2.51 a gallon, up 0.9 cent. Houston had the cheapest city pump price at $2.43, down 1.7 cents.

Separately, the average price for diesel fuel decreased 0.3 cents to $2.79 a gallon, 12 cents more than a year ago, the EIA said.

Related News:

AAA: More Thanksgiving Travelers to Hit the Road

BP CEO: Gas Demand Peaked in '07