Gasoline prices remain high for the holidays

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Gasoline prices remain high for the holidays

Thu, 11/25/2021 - 9:50am -- tim

Vermont Business Magazine Vermont gasoline prices rose 1 cent per gallon since last week to $3.43/g. The are 7 cents higher than a month ago and $1.34 higher than a year ago. Meanwhile, Burlington gas prices have fallen 1.6 cents per gallon in the past week, averaging $3.46/g today, according to GasBuddy's daily survey of 100 stations in Burlington. 

The Vermont high is $3.72/g in Woodstock and the low is $3.20 in Middlebury.

For the US average, prices also rose 1 cent from last week to $3.43/g. They are up 7 cents from last month and $1.28 since last year.

Gas prices in Burlington are 5.3 cents per gallon higher than a month ago and stand $1.37/g higher than a year ago. According to GasBuddy price reports, the cheapest station in Burlington is priced at $3.34/g today while the most expensive is $3.49/g, a difference of 15.0 cents per gallon. The lowest price in the state today is $3.25/g while the highest is $3.50/g, a difference of 25.0 cents per gallon.

Historical gasoline prices in Burlington and the national average going back ten years:
November 22, 2020: $2.10/g (U.S. Average: $2.10/g)
November 22, 2019: $2.69/g (U.S. Average: $2.60/g)
November 22, 2018: $2.83/g (U.S. Average: $2.55/g)
November 22, 2017: $2.59/g (U.S. Average: $2.52/g)
November 22, 2016: $2.27/g (U.S. Average: $2.13/g)
November 22, 2015: $2.22/g (U.S. Average: $2.07/g)
November 22, 2014: $3.17/g (U.S. Average: $2.82/g)
November 22, 2013: $3.46/g (U.S. Average: $3.22/g)
November 22, 2012: $3.73/g (U.S. Average: $3.43/g)
November 22, 2011: $3.43/g (U.S. Average: $3.33/g)

Neighboring areas and their current gas prices:
Albany- $3.53/g, up 0.5 cents per gallon from last week's $3.52/g.
New Hampshire- $3.36/g, unchanged  from last week's $3.36/g.

"With oil prices plunging nearly $10 from the recent peak of $85 per barrel, motorists will start to see gas prices decline nationwide, just in time for Thanksgiving, and the decline could stretch for several weeks," said Patrick De Haan, head of petroleum analysis for GasBuddy. "It's not impossible- so long as oil prices hold near these levels or continue falling- that the national average could shed 15 to 30 cents per gallon over the coming weeks, while some areas like California could see declines of as much as 25 to 40 cents. While there's reason to be optimistic that the peak of gas prices will soon be behind us, the decline in the price of oil is likely reflecting the possibility of a coordinated global release of oil from strategic reserves. If that doesn't happen, oil could again rally. However, with Covid cases on the rise again reducing global demand, it does seem the most likely outcome will be a drop in gas prices that could last several weeks."

GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. Unlike AAA's once daily survey covering credit card transactions at 100,000 stations and the Lundberg Survey, updated once every two weeks based on 7,000 gas stations, GasBuddy's survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://prices.GasBuddy.com.

SOURCE Burlington, VT. GasBuddy http://www.vermontgasprices.com/