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Report: Gas Prices Expected To Rise For Thanksgiving Holiday

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Gas prices will be at their highest since 2014 for the upcoming Thanksgiving holiday, according to a report by GasBuddy.

The smartphone app projects that the national average of gasoline will be $2.56 per gallon over the holiday — a one cent rise from last year.

While the rise in cost is expected to affect travel plans for 30 percent of those traveling over the holiday, GasBuddy predicts a seven percent increase of travelers on the road.

The report estimates that 65 percent of Americans will travel by car and nearly a fifth will spend 4 to 6 hours on the road. Additionally, more than half of those vehicles are expected to have 1 to 2 passengers on board, according to the report. 

Motorists are encouraged to fuel up on Monday, when prices are projected to be at their lowest, as opposed to later in the week. Prices will be highest on Friday, according to report. 

GasBuddy offered several tips for drivers looking to save money at the pumps. Among other suggestions including cash-back benefits and rewards programs, Gas Buddy discourages motorists from exercising “aggressive driving habits.”

According to the report, aggressive habits such as rapidly accelerating, speeding, and breaking can cost drivers nearly $500 per year in fuel consumption.

 

 


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