Thanksgiving gas prices expected to be higher than ever before

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Tuesday, November 15, 2022
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Gas Buddy expert talks gas prices

The number of Americans expected to travel by car this Thanksgiving is predicted to be higher than last year and drivers should be ready to shell out for record-high gas prices.

Gasbuddy.com is predicting the national average for gas prices on Thanksgiving will be higher than they've ever been before.

Gasbuddy.com estimates the national average is projected to stand at 3.68 a gallon for Thanksgiving, nearly 30 cents higher than last year and more than 20 cents higher than the record of 3.44 a gallon set in 2012.

While prices have had very slight declines in the last few days, they have remained elevated for many months.

"It's a sign of where we've been in 2022," explained Patrick De Haan. "Gas prices have been elevated because of refinery shutdowns that have persisted through COVID. Some refineries have permanently shut down. In addition, Russia's war in Ukraine continues to crimp global oil supply as countries have sanctioned Russia. So we've continued to see prices elevated," De Haan added.

Travel experts said despite the elevated prices, 38 percent of Americans will travel by car compared to 32 percent in 2021.

If you're planning to hit the road, experts said there are some ways to maximize gas mileage.

"Always maintenance," De Haan said. "Check your tire pressure, making sure that you're not dragging around excess weight. Car carriers on the top of your vehicle certainly can reduce mileage significantly. But I think more savings can really be achieved from things like shopping around with apps like Google maps, Waze, or GasBuddy when you need to fill your tank and making sure that you check prices before you cross state lines. If you do that, it can result in big savings."

De Haan says loyalty or cash discounts at some stations can also help you save at the pump.

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