Gas Prices Edge Higher Ahead of Thanksgiving

By Peter Neumann

Gas Prices Edge Higher Ahead of Thanksgiving

November 25, 2013

DETROIT, Mi. (My TV20 News at 10) --- Average retail gasoline prices in Detroit have risen 4.3 cents per gallon in the past week, averaging $3.25/g Sunday, according to GasBuddy's daily survey of 1,734 gas outlets in Detroit.

This compares with the national average that has increased 5.1 cents per gallon in the last week to $3.26/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Detroit during the past week, prices yesterday were 29.6 cents per gallon lower than the same day one year ago and are 3.3 cents per gallon lower than a month ago. The national average has decreased 5.4 cents per gallon during the last month and stands 17.4 cents per gallon lower than this day one year ago.

"The national average has seen its bounce continue in the last week across most of the nation," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "Some of the lows we saw just a couple weeks ago have vanished, replaced by higher digits as oil prices rallied. It will be an interesting week ahead as some notable progress emerged after developed countries came to a partial solution on Iran's nuclear ambitions. Just that action alone may result in significant downward pressure on oil prices as tough sanctions may soon be eased, allowing Iran's oil to flood an already well-supplied marketplace," DeHaan said.

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