Americans to face record-breaking Thanksgiving gas prices

WHAT YOU NEED TO KNOW:

• Americans should brace for the highest gas prices ever for the Thanksgiving holiday travel.
• GasBuddy reported that the national average price for gas could hit $3.68 per gallon on Thursday, November 24.
• That’s 30 cents higher than the same time last year.

Americans should prepare to see record gas prices for this year’s Thanksgiving holiday travel season.

On Thursday, November 24, the national average for gas could hit $3.68 per gallon. According to a recent report by GasBuddy, that’s nearly $0.30 higher than in Thanksgiving of 2021, and over $0.20 higher than the previous record of $3.44 set in 2012.

“It has been a dizzying year at the pump, with motorists likely feeling nauseous not from the eggnog, but from the roller coaster ride at the pump with record gasoline prices earlier this year, which have fallen significantly since mid-summer,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

“Americans, however, are proving that while we’ll openly complain about high gas prices, most of us aren’t deterred from taking to the highways to observe Thanksgiving with those that matter most to us, especially as precautions from the pandemic have eased.”

Andrew Gross, the spokesperson for American Automobile Association (AAA), said the price tag also depends on where you’re going to drive for the holiday. Although the nationwide average for gas is higher, some gas stations in about 13 states, including Texas, sell cheaper than the average, he said.

The national average clocked in at $3.67 on Sunday, but has been gradually dropping, Gross added. The national average was $3.83 last month.

Inflation has been causing most commodities to cost more this past year, including gas prices. Oil supply shortages and low refining capacity from Russia’s invasion of Ukraine are contributing to it.

In June, the nationwide average price reached a record-breaking $5 for a gallon of gasoline. In some places, it remains costly to fill up your tank – in California on Sunday, the average is a fraction below $5.27 per gallon.

Despite it all, Americans look forward to traveling because they’re ready to see friends and family after skipping out on past holidays during the pandemic.

“This will be one of the busiest Thanksgiving travel periods we’ve ever seen,” Gross said.

Nearly all Thanksgiving travelers will go by car, he added, which “is not unusual, it’s kind of the nature of the holiday. It’s a five-day travel period so it’s not huge and it’s super family-oriented.”

Source: Daily Mail Online