Gas prices have been on the decline recently, and for folks who have to travel for the Thanksgiving holiday this week, the news may be even better.
A 7 percent single-day drop in crude oil prices last Tuesday extended a record streak of 12 days that oil prices had fallen, according to GasBuddy. The petroleum analysts recommended at that time that drivers hold off on filling up because the trend was expected to continue.
The national average had already shed 24 cents per gallon in the last month alone with some states seeing even bigger monthly declines, GasBuddy said, adding that last week’s drop in oil prices will extend the decline in gas prices for perhaps several more weeks in nearly all states, at a time of year millions of Americans are preparing to hit the road. Most states could see a decline of 5-15 cents per gallon ahead of Thanksgiving, with more to come, a release said.
"(Last week’s) market plunge was astounding and a dramatic turnaround in market psyche in the last month. A 26 percent drop in the price of oil is absolutely shocking given the environment and concern ahead of the Iran sanctions that the oil market was not supplied with enough oil," said Patrick DeHaan, head of petroleum analysis at GasBuddy, in the release.
"Motorists need not be in a hurry to fill their tanks. (Last week’s) sell-off will extend and accelerate the declines seen at the pump, just in time for Thanksgiving. The best tip I can suggest is to shop around for the lowest prices as some stations will pass on the savings faster than others."
As of Friday, GasBuddy was reporting an average regular gasoline price of $2.50 per gallon in Burke County. The statewide average of $2.54 was down 0.9 cents from Thursday, 5.6 cents from the prior week and 19.4 cents from October.
For those who will be traveling around the region, the average prices reported by GasBuddy on Friday extended to $2.47 in Catawba County, $2.49 in Caldwell County, $2.47 in Lincoln County, $2.53 in Cleveland County, $2.54 in Rutherford County, $2.52 in McDowell County and $2.55 in Avery County.
The lowest reported price on the GasBuddy mobile app for Burke County on Friday was East-West Convenience Store on U.S. Highway 70 in Valdese at $2.24 per gallon. Other low prices in the area were the Citgo station on U.S. 70 in Drexel ($2.27), Petro 70 at 2175 U.S. 70 ($2.28) and BP on Main Street in Valdese ($2.29).
Those stations were on the low end of 29 stores with prices reported on the app Friday afternoon in Burke County with an average of $2.49 per gallon.
For diesel fuel, the lowest reported prices were the Quik Mart at 1307 S. Sterling St. ($2.99), Quality Plus in Carbon City ($2.99), Walmart Neighborhood Market on North Green St. ($3.02), Gate at 855 N. Green St. ($3.04) and Ingles Gas Express on Carbon City Road ($3.04).
For more national, state and county gas price averages, go to fuelinsights.gasbuddy.com. To find the lowest gas prices and information about convenience stores in the area, download the GasBuddy mobile app.
Justin Epley can be reached at firstname.lastname@example.org or 828-432-8943.