Sheetz is cutting gas prices by 40 cents a gallon ahead of the Thanksgiving travel rush.
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Conway Gittens: The Dow was an outperformer Thursday with investors relieved about the economy. Weekly jobless claims dropped to a seven-month low and existing home sales jumped 3.4 percent in October. The median sales price rose to $407,200. On the corporate front, it was a wobbly session for Nvidia, the world’s most valuable company. Investors deemed the AI chip leader’s quarterly results as good, but not good enough.
In other news, Gas station operator Sheetz is giving drivers something else to be thankful for this Thanksgiving holiday. It is dropping the price on unleaded gas number 88 by 40 cents per gallon through the end of November. The discount is only available at the 505 locations where this specific type of gas is sold.
Sheetz is making a strategic calculation that customers will be drawn to the lower price at the pump and then spend more inside its convenience stores.
The national average for non-premium unleaded gas will be under 3 bucks for Thanksgiving, according to GasBuddy. Last year this time, the national average was $3.30, according to AAA. Gas stations all over the country are expected to be busier than last year. AAA predicts some 80 million people will hit the road for Thanksgiving. That’s 1.7 million people more than last year, with the bulk of that increase coming from automobile travel.
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