Retail gasoline prices keep falling

Average retail gasoline prices in Iowa have fallen 7.4 cents per gallon in the past week, averaging $2.85 a gallon Nov. 23, according to GasBuddy?s daily survey of 2,036 gas outlets in Iowa. This compares with the national average that has fallen 4.9 cents per gallon in the last week to $2.82 per gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Iowa during the past week, prices yesterday were 23.7 cents per gallon lower than the same day one year ago and are 17.9 cents per gallon lower than a month ago. The national average has decreased 24.9 cents per gallon during the last month and stands 41.4 cents per gallon lower than this day one year ago.

?As we begin Thanksgiving week, Americans are gearing up to hit the road, and when they do, they?ll be spending far less on their fuel bill than a year ago,? said Patrick DeHaan, senior petroleum analyst with GasBuddy.  ?For nearly a third of our users we?ve heard that they will be driving over 500 miles round trip to their Thanksgiving destinations, so savings versus last year will be substantial.

?For those motorists, and others who cross state lines this Thanksgiving, we want to remind them that gasoline taxes vary significantly from state to state. For example- crossing the Illinois/Missouri state line yields almost a 30-cent per gallon savings. Nationally, prices are likely nearing a bottom, so in addition to everything else, motorists should be thankful for the decline in gas prices,? he noted.