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Highest Thanksgiving Gas Prices Since 2014

Highest Thanksgiving Gas Prices Since 2014


POSTED November 22, 2017 11:24 a.m.

GasBuddy, the only smartphone app connecting 70 million drivers with their Perfect Pit Stop, has projected that Thanksgiving will see the highest average gas prices since 2014 as the country prepares for the busiest traveling weekend of the year. Yet the average gas price in four of five U.S. states is lower than a week ago, coming as the number of Americans driving is expected to surge by 20 percent over last Thanksgiving, according to GasBuddy’s Annual Holiday Travel Survey.

GasBuddy projects the national average gas price this Thanksgiving will be $2.53 per gallon, the priciest Thanksgiving in three years (2014: $2.79), though not as high as the peak on Thanksgiving in 2012 ($3.44). Additionally, average gas prices have risen nine cents in the last month, the largest pre-Thanksgiving Day increase since 2007, when average prices rose 26 cents in the 30 days leading up to the holiday.

“This year has been unique at the pumps. Gas prices spent much of the time in the weeks approaching Thanksgiving by rising when typically, they would be on a sizeable downward trend,” said Patrick DeHaan, head of petroleum analysis at GasBuddy. “On average Americans are paying nearly 40 cents a gallon more than last year, which means collectively we’re spending $800 million more on fuel over the Thanksgiving travel period. Drivers should pay close attention to prices to avoid overpaying.”

According to GasBuddy’s Annual Holiday Travel Survey, despite higher gas prices, travelers are driving longer distances. The 2017 holiday is expected to see a four percent increase in travelers driving for 10 or more hours over Thanksgiving compared to 2016.

GasBuddy offers several tips to motorists on the road this holiday season:

Watch out for state lines. Because of differing state taxes, in some extreme cases, drivers can spend an extra $25 when refueling the tank if on the wrong side of the line according to a review GasBuddy study.

Avoid gas stations near the highway. Gas stations on a long stretch of highway will usually be pricey. If possible, plan ahead or drive a little farther toward the nearest town to find a cheaper station.

Pay with GasBuddy. A free new payments service that offers 15 cents off per gallon on the first fill-up and five cents off per gallon on every fill-up after at over 100,000 stations nationwide.

Meanwhile, average retail gasoline prices in Modesto have fallen 4.9 cents per gallon in the past week, averaging $2.99/gallon Sunday, according to GasBuddy’s daily survey of 201 gas outlets in Modesto. This compares with the national average that has fallen 2.6 cents per gallon in the last week to $2.54/gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Modesto during the past week, prices Sunday were 56.5 cents per gallon higher than the same day one year ago and are 14.5 cents per gallon higher than a month ago. The national average has increased 8.9 cents per gallon during the last month and stands 40.4 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on Nov. 20 in Modesto have ranged widely over the last five years: $2.43/gallon in 2016, $2.54 in 2015, $2.95 in 2014, $3.38 in 2013 and $3.59/gallon in 2012.

Areas near Modesto and their current gas price climate include: Stockton - $3.04/gallon, down 4.6 cents per gallon from last week’s $3.09; Oakland - $3.21, down 2.5 cents per gallon from last week’s $3.24 and San Jose - $3.18, down 2.8 cents from last week’s $3.21/gallon.

For LIVE fuel price averages, visit http://FuelInsights.GasBuddy.com.

 

GasBuddy is a smartphone app connecting drivers with their Perfect Pit Stop. With 70 million downloads, GasBuddy is the leader in crowdsourced information to help drivers find the best gas prices, closest stations, friendliest service, cleanest restrooms, tastiest coffee and much more. GasBuddy is the leading source for the most accurate, real-time fuel prices at more than140,000 gas stations in the U.S., Canada and Australia.

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