US gasoline prices fall in week, at 5-month low ($2.20 a gallon avg)

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US gasoline prices fall in week, at 5-month low

WASHINGTON, Nov 21 (Reuters) - U.S. retail gasoline prices fell to a 5-month low in the latest week but drivers will still pay the highest pump costs ever heading into a Thanksgiving Day holiday, the government's top energy forecasting agency said on Monday.

The price for regular unleaded gasoline declined 9.5 cents over the last week to an average $2.20 a gallon, based on the federal Energy Information Administration's weekly survey of service stations.

That is the lowest price since June 20, but still up 25 cents from a year ago and a record for the Thanksgiving holiday week, the EIA said.

Higher gasoline costs will cut into some Americans travel plans, according to AAA. The travel group said it expects 30.8 million Americans will travel 50 miles or more from home this Thanksgiving holiday weekend, up a slight 0.7 percent from last year.