Sheetz cuts gas prices by 40 cents

New York
CNN
—

Sheetz, the gas station and convenience store chain, is slashing prices at some of its pumps ahead of the busy Thanksgiving travel season.

With immediate effect, the price of its unleaded 88 will be reduced by 40 cents per gallon. The deal runs until the end of November and is available at 505 Sheetz locations that sell that type of gas.

Sheetz and other chains periodically cut prices to generate buzz and sales, even at the cost of lower profits. Drawing people in with cheap gas can help give grocery stores a boost.

But it’s a strange time to lower gas prices, which are below $3 a barrel. gallon in 31 states and hovers at $3.06 per gallon nationally. That’s down from $3.30 at this time a year ago, according to AAA.

Sheetz, which has 750 locations primarily in the Mid-Atlantic area, encourages customers to check its app or website to see if their location offers the discounted fuel. The chain also offered discounts on unleaded 88 last summer and during the Thanksgiving holiday last year.

AAA predicts the busiest Thanksgiving in years, with nearly 80 million people expected to travel for the holiday. That’s an increase of 1.7 million people compared to last year, the agency said, adding that nearly 90% of them will be drivers.

Drivers fueling up ahead of their trip next week may notice that the price of a gallon of gas is about 25 cents cheaper overall this year compared to last year. GasBuddy said many drivers will see rates of $2.98 per gallon.

“Gas prices, after more than two years of seething due to external factors like Covid and Russia, are finally coming back into balance,” GasBuddy’s Patrick De Haan previously told CNN.