November 2024 Fuel Price Update: Slight Regional Shifts Ahead of Thanksgiving

In the past week, fuel prices shifted marginally in almost all regions nationwide. The U.S. national average gas price dipped ever so slightly but stayed relatively the same at $3.04, according to U.S. Energy Information Administration (EIA) data. Prices year-over-year are down 24 cents.

“Ahead of Thanksgiving, motorists continue to be teased by the prospect of a $2.99 per gallon national average,” Patrick De Haan, head of petroleum analysis at GasBuddy, said. Although the prospects have seemed favorable for the national average to reach below $2.99, which is currently seen in over half of the country’s states, it hasn’t crossed that threshold yet.

“Some promotions ahead of Thanksgiving are pushing gas prices back down, even as oil remains elevated. For now, we’re just pennies away from the national average falling to $2.99, but for a third year, we may again fall short,” De Haan continued.

However, we are still seeing the lowest national average price of gasoline since 2021, and according to De Haan, with a far better economic picture than when gas prices were last this low.

See how diesel prices are changing per region on Work Truck.

U.S. Regional Gasoline Prices as of November 25, 2024

Here’s a look at prices by region according to EIA data, as of Nov. 25:

• East Coast: $3.01
• Midwest: $2.86
• Gulf Coast: $2.63
• Rocky Mountain: $2.82
• West Coast: $3.88

Over the last week, prices shifted up and down from region to region, with increases of less than one cent in the East Coast, Gulf Coast, and West Coast regions. The Rocky Mountain region saw the most significant decrease of 8 cents.

Here’s a list of the 10 lowest average prices per gallon, according to AAA data as of Nov. 25:

Oklahoma has remained the number one state with the cheapest price for a gallon of gas at $2.51. Currently, 28 states have a $2.99 or lower average for a gallon of gas.

U.S. Regional Gasoline Prices as of November 18, 2024

The national average dipped for the fifth consecutive week, with slight changes across U.S. regions. The national average cost of gasoline decreased 1 cent in the last week to $3.04, according to U.S. Energy Information Administration (EIA) data. Prices year-over-year are down 24 cents.

“Several states saw gas prices jump or ‘cycle’ last week, a behavior in which gas prices climb significantly after falling below a station’s replacement price,” De Haan said.

Cycling explains why the national average saw little change from last week, and many states are experiencing a slow decline despite the states that saw big jumps.

“The good news is that those states that saw large jumps last week will likely see some of the biggest declines at the pump this week, paving the way for the national average to fall, potentially below $3 per gallon,” De Haan continued.

See how diesel prices are changing per region on Work Truck.

Here’s a look at prices by region according to EIA data, as of Nov. 18:

• East Coast: $3.00
• Midwest: $2.88
• Gulf Coast: $2.62
• Rocky Mountain: $2.91
• West Coast: $3.87

Over the last week, prices declined everywhere except the East Coast, which saw an insignificant increase, and the Midwest, which saw a slight increase of 2 cents. The Rocky Mountain region saw the most significant decrease of 16 cents.

Here’s a list of the 10 lowest average prices per gallon, according to AAA data as of Nov. 18:

Oklahoma has remained the number one state with the cheapest price for a gallon of gas at $2.56. Currently, 28 states have a $2.99 or lower average for a gallon of gas.

U.S. Regional Gasoline Prices as of November 11, 2024

In the second week of November, gas prices dipped in most regions for a fourth consecutive week across the U.S. The national average cost of gasoline decreased 1 cent in the last week to $3.05, according to U.S. Energy Information Administration (EIA) data. Prices year-over-year are down 29 cents.

With the election passed, dropping gas prices have stayed the course as seasonal demand weakens. Some may be surprised by the decline, De Haan said. Still, at least half of U.S. states have an average below $3 per gallon, which was anticipated in GasBuddy’s annual fuel outlook in December 2023.

“With the median U.S. gas price now at $2.95 per gallon, the lowest since 2021, it appears to be just a matter of time before the national average falls below $3 per gallon for the first time since May 2021,” De Haan continued.

See how diesel prices are changing per region on Work Truck.  

Here’s a look at prices by region according to EIA data, as of Nov. 11:

• East Coast: $3.00
• Midwest: $2.86
• Gulf Coast: $2.63
• Rocky Mountain: $3.07
• West Coast: $3.92

Over the last week, prices declined everywhere except the East Coast and Gulf Coast regions, which saw slight increases of 1 cent. The Midwest region saw the most significant decrease of 7 cents.

Here’s a list of the 10 lowest average prices per gallon, according to AAA data as of Nov. 11:

Three states have been unknowingly battling for the cheapest price for a gallon of gas. Oklahoma, Mississippi, and Texas frequently place at the top of the list, with Oklahoma maintaining the lowest price at $2.60. In recent months, Mississippi held the number one spot.

Currently, 25 states have a $2.99 or lower average for a gallon of gas.

U.S. Regional Gasoline Prices as of November 4, 2024

Heading into November, gas prices continue declining in most regions across the U.S. The national average cost of gasoline decreased 3 cents in the last week to $3.06, according to U.S. Energy Information Administration (EIA) data. Prices year-over-year are down 32 cents.

Although seasonal trends continue to push down gasoline prices, attention will be paid to the election this week and its impact on the nation’s trajectory.

“Gasoline prices are likely to be a gift to the next president, staying much lower than in previous years when COVID and Russia’s war on Ukraine caused a surge that’s unlikely to repeat,” Patrick De Haan, head of petroleum analysis at GasBuddy, said.

Americans can expect the downward trend to continue in most states, while others have seen price jumps temporarily due to “price cycling”, De Haan continued. We should see the number of states with sub-$3-per-gallon prices grow as we get closer to Thanksgiving.

See how diesel prices are changing per region on Work Truck.  

Here’s a look at prices by region according to EIA data, as of Nov. 4:

• East Coast: $2.99
• Midwest: $2.93
• Gulf Coast: $2.61
• Rocky Mountain: $3.10
• West Coast: $3.94

Over the last week, prices declined in every region except the Midwest, which saw a slight increase of 1 cent. The Rocky Mountain region saw the most significant decrease of 9 cents.

Here’s a list of the 10 lowest average prices per gallon, according to AAA data as of Nov. 4:

As more and more states fall under the $3 per gallon benchmark, Mississippi has been yet again dethroned by another state for the number one state with the cheapest price for a gallon of gas. Oklahoma has the lowest price at $2.63.

Currently, 25 states have a $2.99 or lower average for a gallon of gas.

Regional Gas Prices: Final Week of October

At the start of the final week of October 2024, the average gas prices according to EIA data, as of Oct. 28, reported by region were: 

• East Coast: $3.04
• Midwest: $2.92
• Gulf Coast: $2.64
• Rocky Mountain: $3.19
• West Coast: $3.97