Gas prices falling below $2 across U.S., but not Bellingham

For the first time in six years, the average national gas price is expected to be under $2 a gallon on Thanksgiving.

GasBuddy, an online resource for real-time gas prices, projects that by Thanksgiving Day the national average will be $1.99 a gallon, nearly 80 cents per gallon less than a year ago and $1.29 a gallon cheaper than Thanksgiving 2013.

The average gas price probably won’t drop below $2 a gallon in the Bellingham metro area on Thanksgiving, but local residents will see significant savings compared to a year ago. The average price for a gallon of local gas was $2.48 on Tuesday, Nov. 24, down 65 cents compared to a year ago, according to data from AAA Washington’s Daily Fuel Gauge Report.

Among Washington’s major metro areas, Richland had the lowest average price at $2.28 a gallon while Seattle was the highest at $2.55 a gallon.

Gas prices are expected to keep dropping until the end of 2015, said Patrick DeHaan, a senior petroleum analyst with GasBuddy. Factors for the low prices this time of year are the glut in oil production, low demand and relatively few U.S. refineries doing turnaround work.

Diesel prices also are steadily dropping in Bellingham, according to AAA Washington. The average price for a gallon of diesel was $2.59 in Bellingham on Nov. 24, down $1.08 compared to a year ago.

This story was originally published November 24, 2015 at 7:10 AM with the headline "Gas prices falling below $2 across U.S., but not Bellingham."