The price of gasoline continues to fall as Thanksgiving travel plans begin to take shape.
Average retail gasoline prices in Kansas have fallen 3.9 cents per gallon in the past week, averaging $1.93/g on Sunday, according to GasBuddy.com’s daily survey of 1,329 gas outlets in Kansas.
As of Tuesday morning, three stations in Dodge City were listing a gallon of regular unleaded at $1.83 a gallon. Those stations were Murphy USA, Dillons and Kwik Shop on the corner of 14th Avenue and Wyatt Earp Boulevard.
Two more stations — Love’s Travel Plaza on Traill Street and Kwik Shop on Central — were at $1.85 Tuesday morning.
According to GasBuddy.com and AAA Kansas, the average price nationally dropped to $2.15 in the past week.
"While it’s less than a week after the biggest upset in US election history, energy industry experts are already speculating on what steps a Trump administration might enact first; whether the earliest initiatives might eliminate regulations or perhaps look to increase domestic oil and gas production," said Gregg Laskoski, senior petroleum analyst for GasBuddy.com. "The Keystone XL Pipeline, for instance, is expected to find itself in a more favorable environment for approval but it remains debatable whether such a development would directly benefit US consumers.
"Over the next few weeks expect prices at the pump to move lower based on market fundamentals, not politics. Inventories remain healthy and wholesale gasoline prices across the US today, on average, are more than 10 cents per gallon lower than where they stood just a week ago."
According to AAA Kansas, pump prices have fallen for 10 consecutive days. Drivers are benefitting from the price of retail gasoline with today’s average 5 cents less per gallon than one week ago and 8 cents less than one month ago. The abundance of crude oil in the global market is contributing to lower prices, and as a result, retail averages are the same price as compared to one year ago.
Two stations in Parsons and one in Topeka shared the lowest price in Kansas on Tuesday morning at $1.69 gallon, while a Phillips 66 station is the state’s highest price per gallon at $2.29 a gallon.
According to AAA Kansas, historically gasoline demand tends to decline during the month of November, and with the autumn refinery maintenance season nearing completion, pump prices are expected to move lower to close out the year, barring any unanticipated outages or supply disruptions.
With gas prices the second-cheapest in nearly a decade, AAA Kansas projects that nearly 3.9 million in the West North Central region, of which Kansas is a part, will journey 50 miles or more from home this Thanksgiving, an increase of about 23,000 travelers compared with last year. This represents the most Thanksgiving travelers since 2007. A larger share of the population in the region (16.5 million), are traveling by car, more than any other region. The Thanksgiving holiday travel period is defined as Wednesday, Nov. 23, to Sunday, Nov. 27.