The average price of gasoline in the U.S. hit $2.81 per gallon this week, putting prices on target to reach the lowest Thanksgiving average since 2009.
The national average for a gallon of gas has fallen for 60 consecutive days, AAA said on Monday, reaching the $2.81 per gallon mark, which is seven cents less than one week ago.
{mosads}The low average is the cheapest gas has been since 2010. If the decline continues drivers will be paying less for Thanksgiving travel than they did in 2009, when the price was $2.63 per gallon.
Thirty-eight states have averages below $3 per gallon, in large part due to the abundance in global oil supply, which has sent prices tumbling.
The savings at the pump come as 46.3 million Americans are expected to travel more than 50 miles from home during the Thanksgiving weekend, the highest volume for the holiday since 2007, AAA said.
Additionally, AAA warns that market watchers are keeping a close eye on the Organization of Petroleum Exporting Countries meeting and a gathering between Iran and global leaders.
Depending on the outcome of the meetings, gas prices could be impacted.