STREAMING NOW: Watch Now

Gas Prices Expected to Drop Ahead of Thanksgiving

Experts say that unexpectedly plunging crude oil prices are fueling extra savings at the pump.

Posted: Nov 13, 2018 2:11 PM
Updated: Nov 20, 2018 1:42 PM

MEDFORD, Ore. — If you're destined to drive for the Thanksgiving holiday, now may be a surpisingly good time to fill up. According to experts, gas prices are dropping across the U.S. this week.

The discount comes from a precipitous decline in the cost of crude oil.

"A 26% drop in the price of oil is absolutely shocking given the environment and concern ahead of the Iran sanctions that the oil market was not supplied with enough oil," said Patrick DeHaan, head of petroleum analysis at GasBuddy. "Motorists need not be in a hurry to fill their tanks. Today's sell-off will extend and accelerate the declines seen at the pump, just in time for Thanksgiving. The best tip I can suggest is to shop around for the lowest prices as some stations will pass on the savings faster than others."

AAA says that the national average for gas prices has already dropped six cents per gallon this week to $2.81. Oregon's prices are more expensive, however — falling five cents to an average of $3.28.

According to GasBuddy, the national average has dropped 24 cents in the last month, with some states seeing even larger declines — Michigan is down 33 cents, while Delaware, Iowa, Indiana and Kentucky are all down 32 cents on average versus a month ago.

"Today's drop in oil prices will extend the decline in gas prices for perhaps several more weeks in nearly all states, at a time of year millions of Americans are preparing to hit the road," GasBuddy said in a statement. "Most states could see a decline of 5-15 cents per gallon ahead of Thanksgiving, with more to come."

As is often the case, however, Southern Oregon boasts some of the highest gas prices in the state, according to AAA's accounting. The Medford/Ashland area currently averages $3.295 — higher than any other metro area in Oregon.

Oregon has the fifth highest gas prices in the nation, trailing only behind other Pacific states. Hawaii tops the list, followed by California, Washington and Alaska.

AAA also found that the national average for gas prices in 2018 are higher than any of the previous three years.

Oregon Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 20635

Reported Deaths: 348
CountyConfirmedDeaths
Multnomah476293
Washington299124
Marion283769
Umatilla222127
Clackamas150039
Malheur75513
Deschutes5829
Lane5653
Jackson4472
Yamhill42913
Lincoln4129
Union3942
Morrow3493
Jefferson3464
Polk30812
Linn27110
Klamath2012
Hood River1810
Wasco1813
Benton1646
Douglas1481
Josephine1132
Columbia910
Coos900
Clatsop840
Crook431
Baker380
Tillamook340
Lake320
Wallowa191
Sherman150
Curry140
Harney100
Gilliam40
Grant40
Unassigned00
Wheeler00

California Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 546814

Reported Deaths: 10133
CountyConfirmedDeaths
Los Angeles2042584919
Riverside40452799
Orange38754704
San Bernardino34939497
San Diego31127583
Kern22009160
Fresno16625157
Alameda12884206
San Joaquin12119192
Santa Clara11336196
Sacramento10544155
Tulare10475196
Imperial9601240
Stanislaus9408151
Contra Costa8760136
Ventura803582
San Francisco732664
Santa Barbara665268
San Mateo5978120
Marin525778
Monterey515635
Merced485562
Kings445356
Solano395939
Sonoma335844
Madera226736
Placer209920
San Luis Obispo204716
Yolo166042
Santa Cruz12294
Butte10608
Napa104610
Sutter8936
El Dorado7161
San Benito6994
Lassen6380
Yuba5724
Shasta4119
Mendocino36310
Colusa3624
Glenn3603
Nevada3211
Humboldt2804
Tehama2711
Lake2202
Amador1620
Mono1531
Tuolumne1472
Calaveras1361
Del Norte960
Siskiyou920
Inyo863
Mariposa602
Plumas340
Trinity50
Modoc40
Sierra30
Alpine20
Unassigned00
Medford
Clear
68° wxIcon
Hi: 91° Lo: 57°
Feels Like: 68°
Brookings
Clear
74° wxIcon
Hi: 78° Lo: 60°
Feels Like: 74°
Crater Lake
Clear
68° wxIcon
Hi: 83° Lo: 52°
Feels Like: 68°
Grants Pass
Clear
73° wxIcon
Hi: 88° Lo: 56°
Feels Like: 73°
Klamath Falls
Clear
68° wxIcon
Hi: 87° Lo: 50°
Feels Like: 68°
Sunny and warm summer weekend
KDRV Radar
KDRV Fire Danger
KDRV Weather Cam

Community Events