Thanksgiving Gas Prices: What Drivers Can Expect This Holiday Weekend
As Thanksgiving approaches, drivers may be curious about gas prices for the holiday weekend. GasBuddy predicts that the average price of gas on Thanksgiving will be $3.02 per gallon, which is one of the lowest prices in the past five years. Despite the lower prices, there may not be a significant increase in holiday travel, as many people stay parked for several days during Thanksgiving week.
According to GasBuddy analyst Patrick De Haan, demand for gasoline during Thanksgiving week is typically lower than the week before and after the holiday. A travel survey conducted by GasBuddy revealed that 74% of Americans do not let gas prices affect their Thanksgiving travel plans, and the percentage of Americans traveling for Thanksgiving this year has decreased to 60% from 72% last year.
For West Michigan drivers, there is good news as gas prices are expected to continue to decline throughout the holiday season. De Haan mentioned that once BP resolves its refinery issues in Whiting, gas prices could drop to around $2.99 per gallon instead of the recent $3.29. GasBuddy anticipates this price adjustment to potentially occur by Christmas.
GasBuddy predicts that midmorning on Wednesday will be the peak time for travel, with 66% of Americans planning to drive more than 100 miles for their Thanksgiving celebrations. Current county-by-county gas prices in Michigan show a slight increase, marking the peak of the current price cycle. However, stations are expected to start lowering prices as the holiday weekend approaches, with the lowest prices expected on Sunday and Monday.
In conclusion, as Thanksgiving approaches, drivers can expect relatively low gas prices compared to previous years. Despite the decrease in travel plans, gas prices are anticipated to continue falling, providing some relief at the pump for drivers during the holiday season.