The cost of a gallon of gas is dropping slightly across Louisiana and Baton Rouge, just in time for Thanksgiving. According to AAA’s Daily Fuel Gauge Report, the average price today for a gallon of regular unleaded was $2.50 in metro Baton Rouge. That’s down from $2.52 a gallon last week. Statewide, the average price of a gallon of gas fell 2 cents in the past week, from $2.54 to $2.52. AAA says the region including Louisiana, Texas, Oklahoma and Arkansas should see a more than 7% increase in Thanksgiving travel, after a 40% decline in 2008.
Meanwhile, oil prices edged down toward $77 a barrel today after a drop in many stock markets and amid concern about the strength of the global economic recovery. By early afternoon in Europe, benchmark crude for December delivery was down 26 cents to $77.20 a barrel in electronic trading on the New York Mercantile Exchange, recovering from $77.07 earlier in the day. The contract gave up $2.12 to settle at $77.46 on Thursday. Crude prices were dragged down by uncertainty about the economic outlook, including concerns about deflation and a possible double-dip recession.
