Americans are seeing the lowest Thanksgiving gas prices since 2021 — but why now?
With rising prices becoming a concern during the holiday season, Americans are expected to look for ways to celebrate on a budget. This is why a record number of Americans are set to hit the road for Thanksgiving as gas prices have dipped to the lowest levels since 2021. Citing data from the national fuel price tracker, GasBuddy, Fox News estimated that more Americans are set to take advantage of the low gas prices to drive, as airlines suffer from congestion and chaos. Furthermore, the American Automobile Association estimates nearly 80 million Americans will drive around the holiday, marking a significant rise from last year.
Patrick De Haan, head of petroleum analysis at GasBuddy, told Fox News that Thanksgiving travel will see holiday gas prices hovering around the lowest holiday level since the COVID-19 pandemic. The tracker forecast that the prices will sit at a national average of $3.02 per gallon over the holiday, which would mark the lowest price since 2021, when the U.S. saw a national average of $3.40. The prices hit the highest level in U.S. history under the Joe Biden administration in June 2022, with the national average exceeding $5 per gallon, amid the war between Russia and Ukraine, and the aftermath of the pandemic. "President Trump’s ‘DRILL, BABY, DRILL’ agenda is driving down gas prices and providing critical savings to American families at the pump this Thanksgiving," White House press secretary Karoline Leavitt exclusively told Fox News Digital, talking about the gas prices.
The report further suggested that when a few West Coast states like California are excluded, the average may fall below the $3 mark. According to GasBuddy data, the 10 states for cheap gas include Oklahoma, Louisiana, Mississippi, Texas, Arkansas, Kansas, Tennessee, Alabama, Missouri, and Nebraska, with the lowest price sitting at $2.49 in Oklahoma. On the other hand, California has the most expensive average cost of gas per gallon, sitting at $4.69. Furthermore, the top ten states with the most expensive gas, apart from California, include Hawaii, Washington, Nevada, Arizona, Alaska, Oregon, Idaho, Pennsylvania, and Illinois, according to the data.
With the low gas prices, the AAA estimates a record 71.7 million Americans will hit the road around the holiday, marking an increase of 1.7 million from last year and an increase of 1.3 million from the pre-pandemic levels in 2019. The report forecast the Wednesday before Thanksgiving to be the busiest pick-up day for car rentals, with returns peaking on Monday and Tuesday after the holiday. Apart from road travel, Thanksgiving air travel is set to pick up as well, with 5.84 million domestic travellers flying around the holiday, as per the AAA. The increase marks a 2% hike in the number of travellers as compared to last year, and an 11% hike as compared to 2019.
The rise comes despite domestic fares being up by 3% compared to last year. Travel by bus, trains, and cruises is also forecast to go up by 9% as compared to last year and over 18% above 2019. With America's richest flourishing, cruise bookings have seen the highest demand, with bookings up by 20% from last year, as per the report cited by Reuters.
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