Gasoline prices ahead of the Thanksgiving holiday are higher than last year (11/22/2017)

The weekly average U.S. gasoline price heading into the 2017 Thanksgiving holiday is $2.57 per gallon (gal), 41 cents/gal higher than it was the week before Thanksgiving last year and 47 cents/gal higher than at the same time in 2015. However, gasoline prices are more than 19 cents/gal lower than the previous five-year average for the same date (Figure 1). Although refinery operations have recovered after hurricane outages, higher crude oil prices, tighter inventories, and stronger demand (measured as product supplied) have all contributed to higher current gasoline prices. ... More »