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Missouri gas prices down 10% heading into Thanksgiving weekend

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(The Center Square) – Missouri drivers will be able to fill their tanks for 10% less than last year during the Thanksgiving holiday weekend.

Wednesday’s average price for a gallon of regular gasoline was $2.89 a gallon, down 32 cents from last year’s price of $3.22, according to AAA. Last month, Missourians were paying $3.23 a gallon. Nationally, the price for a gallon of was $3.28, down from $3.63 a year ago and $3.55 last month.

Missouri’s highest recorded average price was $4.68 a gallon on June 16, 2022.

“Drivers this Thanksgiving can expect cheaper gas prices,” Andrew Gross, AAA spokesperson, said in a statement. “Ten states now have sub $3 a gallon averages, and more will join soon. So savvy drivers will find savings on their way to a turkey dinner this year.”

In the eight contiguous states around Missouri, only four have higher average prices: Illinois ($3.451), Kentucky ($3.018), Kansas ($2.985) and Nebraska ($3.108).

GasBuddy estimated drivers will save approximately $1.2 billion during Thanksgiving holiday travel compared to last year as the national average of a gallon of gas declines. A GasBuddy survey found 41% of respondents planned to travel on the road during the Thanksgiving holiday, an 8% increase from last year.

“More Americans are planning on hitting the road for the Thanksgiving holiday this year, and it’s no wonder why,” Patrick De Haan, head of petroleum analysis for GasBuddy, said in a statement. “Average gas prices have plummeted in all 50 states in the weeks ahead of Thanksgiving, with $2.99 prices spreading like wildfire just in time for the start of the holiday season. Drivers will be saving over half a billion dollars from Wednesday through Sunday compared to what they spent last Thanksgiving with the national average at its lowest since January.”

AAA reported drivers in 10 states – Montana, Florida, Colorado, Utah, North Dakota, Arizona, Iowa, Kansas, Nebraska and Nevada – saw prices drop between nine and 14 cents in the last week.

AAA reported the stabilization of the world oil market appeared to lower prices as a barrel of West Texas Intermediate dropped $1.60 to $76.66.

“Oil prices fell due to reduced market concerns that the conflict in the Middle East will escalate, which could lead to a reduction in regional oil production and higher prices,” AAA reported. “Additionally, the Energy Information Administration reported that total domestic commercial crude inventories increased by 3.6 million (barrels) to 439.4 million (barrels) last week.”

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