There’s potential good news at the pump as we make our way into another busy holiday travel season – gas prices are falling , and they may not yet have bottomed out.
According to the AAA’s daily fuel gauge report, the national average for a regular gallon of gas is $3.27, down 11 cents from two weeks ago, and down a total of 20 cents over the past six weeks.
“The deep rate of unemployment has sent demand down,” Trilby Lundberg, editor of the Lundberg survey, which tallies prices at thousands of gas stations nationwide, told CNN. ”It is the work commute that creates most of our gasoline demand.”
Despite the drop, Trilby added that prices are still higher than last year, comparatively, at this time. During the first week of December in 2010, drivers (nationally) were paying $2.91 per gallon of regular fuel.
The drop in prices comes even as the price for a gallon of crude oil is trading at over $4 more than it was last week. Oil trading closed at $100.96/barrel last Friday.
Courtesy of the Lundberg Survey, here are the average prices in some other major cities:
-Charleston, South Carolina – $3.08
-Houston – $3.09
-Atlanta – $3.22
-Denver – $3.23
-Boston – $3.39
-Chicago – $3.48
-Seattle – $3.56
-Tucson, Arizona – $3.04
With the recent drops in gas prices, are you planning on traveling more this holiday season? Leave a comment below and let us know the current prices for a gallon of gas in your neck of the woods.