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U.S. Gas Prices Slide Before Thanksgiving, With Half of States Under $3

Seasonal supply gains and cheaper oil push prices down.

Overview

  • AAA data place the national average near $3.06 per gallon, with roughly half of states now posting averages below $3 as the holiday getaway begins.
  • Lower crude prices, completion of autumn refinery maintenance, cheaper winter fuel blends and softer seasonal demand are the primary forces behind the decline, according to industry analysts.
  • California’s statewide average has eased to $4.57 from $4.64 a week earlier, with GasBuddy describing a slow, steady drop and noting further relief is likely if refineries avoid new problems.
  • Price gaps remain stark: four stations in Midwest City, Oklahoma, hit $1.99 per gallon, the first sustainable sub‑$2 prices since 2021, while low‑cost Gulf and Midwest states continue to lead declines.
  • Regional contrasts persist, with Washington averaging about $4.18 per gallon even after a monthly dip and Alabama around $2.78 following a week‑over‑week rise, underscoring wide local variation at the pump.