Gas prices fall in advance of holiday, yet higher than last year

Average retail gas prices in Baton Rouge have fallen 5.3 cents per gallon in the past week, averaging $3.17 per gallon of regular unleaded on Sunday, according to gas price website GasBuddy.com. Nationally, prices have fallen 5.7 cents per gallon in the last week to $3.36 per gallon. Including the price decline over the past week, prices remain 49.6 cents per gallon higher than the same day one year ago—though they are 13.9 cents per gallon lower than a month ago. The national average has decreased 11.1 cents per gallon during the last month and stands 49.3 cents per gallon higher than a year ago. “Gasoline prices have continued their slow decline in the last week across a solid majority of the United States, with the national average sagging to its lowest level since this past February,” says GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “Many motorists may be giving thanks for the lower gasoline prices—until they realize that average prices will still easily exceed prior Thanksgiving Day records.” Despite the higher prices this year compared to 2010, AAA estimates 38.2 million people will travel 50 miles or more by car this holiday weekend beginning Wednesday. Drivers constitute roughly 90% of the 42.5 million people expected to travel during the long weekend. That’s 4% more than the almost 41 million who ventured from home to enjoy the holiday last year, either by road or by air.