As an estimated 39.1 million Americans hit the roads this week for the Thanksgiving holiday, motorists filled up their tanks paying prices that were approximately 11 percent lower than this year’s peak of $3.87 a gallon in mid-September. However, travelers still paid approximately 3 percent a gallon more for this year’s Thanksgiving holiday road trip compared to 2011.

With most travelers returning home today through Sunday, many will most likely pay gas prices that are the same or lower than when they filled up their vehicle before their trip. The nationwide average price for a gallon of gas today is $3.43 a gallon, which is flat compared to a week ago and 20 cents a gallon lower than the price at this time a month ago. Marylanders returning home will find the average price at the pump 2 cents a gallon lower than last week’s price and 22 cents a gallon lower than a month ago. However, the average price is 11 cents a gallon higher than a year ago.

While crude oil prices remained flat last week, this week started off with the commodity closing $2.36 per barrel higher at $89.28 per barrel, the highest settlement price since a month ago when crude oil closed at $90.05 on November 19. The escalating violence between Israel and Palestine and the looming U.S. "fiscal cliff" prompted bullish market sentiment and drove the price of the commodity higher on Monday. While neither Israel nor Palestine is a major oil producer, increased geopolitical uncertainty in the Middle East puts upward pressure on prices, as do signs in Washington of progress working to address economic concerns.

Crude oil closed at $87.38 on Wednesday, slightly higher than Tuesday’s close but nearly two dollars a barrel lower than Monday’s close on news that a cease-fire between Israel and Palestine was in the works at the time of the market’s close, later becoming a reality. With traders returning Friday from the holiday, the commodity was trading higher as of mid-morning, over $88 per barrel, this time due to promising economic data out of Germany, signaling that Europe’s largest economy may regain some strength.

"As travelers return home from their Thanksgiving holiday getaway, many Americans are paying prices that are approximately the same or slightly lower than what they paid before leaving on their road trip," said Christine Delise, Public Affairs Specialist. "Gas prices should remain stable and most likely will decline for the balance of 2012 barring any geopolitical issues that could disrupt the global oil supply."

AAA expects that gas prices across the country will continue to hold steady and even decline further approaching the end of the year, barring any major market moving news, as lower demand, cheaper winter-blend gasoline and economic concerns continue to pressure pump prices lower. However, while a cease-fire agreement has been reached in the Middle East, protesters have now rallied in Egypt after President Mursi expanded his power so all eyes will continue to watch that region, as well as the looming U.S. "fiscal cliff, which has the potential to impact the market.

 As an estimated 39.1 million Americans hit the roads this week for the Thanksgiving holiday, motorists filled up their tanks paying prices that were approximately 11 percent lower than this year’s peak of $3.87 a gallon in mid-September. However, travelers still paid approximately 3 percent a gallon more for this year’s Thanksgiving holiday road trip compared to 2011.

With most travelers returning home today through Sunday, many will most likely pay gas prices that are the same or lower than when they filled up their vehicle before their trip. The nationwide average price for a gallon of gas today is $3.43 a gallon, which is flat compared to a week ago and 20 cents a gallon lower than the price at this time a month ago. Marylanders returning home will find the average price at the pump 2 cents a gallon lower than last week’s price and 22 cents a gallon lower than a month ago. However, the average price is 11 cents a gallon higher than a year ago.

While crude oil prices remained flat last week, this week started off with the commodity closing $2.36 per barrel higher at $89.28 per barrel, the highest settlement price since a month ago when crude oil closed at $90.05 on November 19. The escalating violence between Israel and Palestine and the looming U.S. "fiscal cliff" prompted bullish market sentiment and drove the price of the commodity higher on Monday. While neither Israel nor Palestine is a major oil producer, increased geopolitical uncertainty in the Middle East puts upward pressure on prices, as do signs in Washington of progress working to address economic concerns.

Crude oil closed at $87.38 on Wednesday, slightly higher than Tuesday’s close but nearly two dollars a barrel lower than Monday’s close on news that a cease-fire between Israel and Palestine was in the works at the time of the market’s close, later becoming a reality. With traders returning Friday from the holiday, the commodity was trading higher as of mid-morning, over $88 per barrel, this time due to promising economic data out of Germany, signaling that Europe’s largest economy may regain some strength.

"As travelers return home from their Thanksgiving holiday getaway, many Americans are paying prices that are approximately the same or slightly lower than what they paid before leaving on their road trip," said Christine Delise, Public Affairs Specialist. "Gas prices should remain stable and most likely will decline for the balance of 2012 barring any geopolitical issues that could disrupt the global oil supply."

AAA expects that gas prices across the country will continue to hold steady and even decline further approaching the end of the year, barring any major market moving news, as lower demand, cheaper winter-blend gasoline and economic concerns continue to pressure pump prices lower. However, while a cease-fire agreement has been reached in the Middle East, protesters have now rallied in Egypt after President Mursi expanded his power so all eyes will continue to watch that region, as well as the looming U.S. "fiscal cliff, which has the potential to impact the market.

In Maryland the average price for a gallon of regular unleaded is $3.40.