Gas Prices Down With Holiday Weekend Looming

With this holiday week beginning, gas prices in Ohio – including Northeast Ohio – continue on a downward trend.

According to an Associated Press update, the average per-gallon price for regular gasoline was $2.74 in Monday’s survey from three different authoritative sources, including Triple A and the Oil Price Information Service.

A week ago the average was $2.84 per gallon, and a month ago it hovered around $3.

What was the cost for a regular gallon of gas a year ago Thanksgiving week? $3.25.

Ohio’s average is lower than the national average on Monday, $2.81 per gallon.

Analysts quoted in the AP report predict gas prices will likely remain low through the end of the year.

Of course, the price varies widely from community to community, as a result of local market and business conditions and the choices of the people selling, shipping and storing the gasoline.

The immediate effect of the lower gas prices, aside from easing the pressure on household budgets, is that more drivers will be on the road in Ohio and elsewhere this Thanksgiving holiday.

During the long holiday weekend, according to a report Monday in the Denver Post, 46.3 million Americans are expected to drive 50 miles or more from home. This represents a 4.2 percent increase from last year, and is the highest number since 2007, according to AAA.

The gas savings, alas, aren’t translating into cheaper airfares. The Denver Post article reported that average airfares are $307.52, a 1.1 percent increase from last year. This figure came courtesy of the Airlines Reporting Corp. and doesn’t include an average of $51 in additional taxes and fees paid by passengers.