Thanksgiving gas prices highest recorded but Americans still hitting the road

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According to AAA, gas prices over Thanksgiving 2022 are set to be the highest ever recorded. However, that isn’t stopping Americans from traveling over the long holiday weekend.

The national average price for a regular gallon of gasoline is about $3.60, the highest Thanksgiving figure since AAA has been tracking this data since 2000.

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Last year the cost was still up, according to AAA, hovering around $3.40. Gas was also selling at that level in 2012. Historically, AAA data shows the national average is more like $2.50 this time of year.

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Currently, prices are still a dollar higher than pre-pandemic times in 2019. However, the national average at the pump has fallen significantly since hitting an all-time record high of nearly $5 per gallon in early June, which was partially driven by . Sanctions brought on by low global solvency and Russia’s war on Ukraine.

AAA spokesman Andy Gross told Fox Business that prices have already fallen about 15 cents since last week and should continue to decline due to lower demand and lower oil prices.

The oil market is reacting to a rise in coronavirus cases in China, which has already led to a slowdown in Chinese trading activity.

Gas prices to drop dramatically before Thanksgiving Day: report

Despite elevated pump prices, Americans have proven they’re still determined to hit the road for the holidays.

In fact, 20% more motorists plan to hit the road this year, according to a recent GasBuddy report.

According to data from GasBuddy, 38% of Americans plan to travel this year. More than 60% say they are not planning to travel and 20% of them are blaming gas prices.

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Americans “are proving that while we’ll openly complain about high gas prices, that’s not stopping most of us from taking to the highways to spend Thanksgiving with the people who matter most to us.” especially as precautions from the pandemic have been eased,” said de Haan, head of petroleum analysis at Patrick Gasbuddy.

Thanksgiving gas prices highest recorded but Americans still hitting the road

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