Gas prices have gone up for 31 straight days according to AAA and economists say it doesn't look like prices will be decreasing any time soon.
Photographer: Justin Sullivan/Getty Images
Copyright Getty Images
Retail regular unleaded gasoline prices now are at a one-year low for this time of year, besting last year's price by five cents a gallon during last week, according to AAA.
And the price — that's now around $3.33 — could fall slightly or remain the same through the Thanksgiving holiday weekend, said AAA spokeswoman Jessica Brady.
Last week, AAA expected a continued downward trend but then armed hostilities flared between Israel and Palestine, creating concerns about "oil supply disruptions in the (Mideast) region which have the potential to reverse the downward trends in both oil and gas prices," Brady said. On Friday, a barrel of oil sold for $86.67, which was 60 cents more than the week before.
The current per-gallon price at the retail fuel pump is three cents below last week and 34 cents under a month ago. Each year, prices go through a cycle with prices declining in the fall after refineries switch to producing less costly winter blends of motor fuel. That typically continues through the winter and then rise in the spring as the summer travel season approaches.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
One person will win a three-year lease on a 2013 Honda Civic Lx Sedan automatic.
Click to see the latest mugshots, plus this week's wanted fugitives.
This feature packed upgrade brings you faster performance, easier navigation, and stunning improvements to photos, video and readability.