Texans do have something to be thankful for this Thanksgiving, despite food prices being up. Gas prices remain low and have been trending down for the past several weeks. AAA now has the statewide average for regular unleaded at $2.69 per gallon, 10 cents less than a year ago and nearly 40 cents below the national average of $3.08 per gallon. Houston's average is even better, at $2.62 per gallon. "We've seen gasoline demand decrease and supply levels have risen, and so that's really putting us in a good place for relatively lower prices at the pump in the days to come," says Doug Shupe with AAA Texas.
Soft demand and steady supply have kept a lid on gas prices since the end of the summer, and things could get even better with the election of Donald Trump expected to boost more oil and gas production. Crude oil is now below $70 a barrel, and could continue to fall. But Shupe warns there still could be a slight price uptick on the horizon. "As we get into the week of Thanksgiving, demand for gasoline will pick up," he tells KTRH. "So we may see some upward pressure on the pump price as we get closer to the holiday, but those higher prices may not be shown at the pump until after the holiday itself."
Ultimately, lower prices will mean more drivers on Texas roads during the upcoming Thanksgiving period. "If the major holidays we've had this year are any indication, we are anticipating very busy, possibly record-breaking Thanksgiving travel for this year as well," says Shupe.
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