AAA: Holiday Gas Prices May Hit Record High

The following is provided by AAA:

AAA estimates the national average price of gasoline will drop to between $3.25-3.40 a gallon by the holiday, similar to last year’s average of $3.32, which was the most expensive average ever on Thanksgiving. Despite the historically high prices paid by motorists this year, the national average has declined by nearly 40 cents a gallon since early October and should continue to drop through the end of the year. The national average price of gas for Thanksgiving from 2007-2011 is $2.75 a gallon.

What About Gas Rationing in NJ & NY?

In the immediate aftermath of Sandy, power outages in New York and New Jersey left many stations unable to operate pumps, despite gasoline in their storage tanks.  As power is restored to the region and distribution and resupply issues are being resolved, more and more gas stations are becoming operational.  Early in the week, Governor Christie (NJ) lifted gas rationing and by week’s end, both New York and New Jersey saw gas stations return to 85 to 90 percent operational.