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 gas pumps ahead of the busy Thanksgiving holiday season.

From now on the price for Unleaded 88 will be reduced by 40 cents per gallon. The deal runs through the end of November and is available at 505 Sheetz locations that sell this type of gas.

Sheetz and other chains regularly slash prices to create buzz and generate sales, even at the expense of reduced profits. Attracting people with cheap gas could help boost sales at convenience stores.

But it’s a strange time to cut gasoline prices, which are below $3 a gallon in 31 states and $3.06 a gallon nationwide. 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 region, 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 last year’s Thanksgiving holiday.

AAA is predicting 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.

Motorists filling up before their trip next week may find 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 prices as low as $2.98 per gallon.

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