Gas prices fall ahead of surge in Thanksgiving traffic
AUGUSTA, Ga. (WRDW/WAGT) - More Americans plan to hit the road for the Thanksgiving holiday as gas prices drop the week before, according to GasBuddy’s annual travel survey.
The 2023 survey reveals more drivers plan to drive, some aren’t traveling at all; but the major finding is that gas prices have dropped significantly.
“Average gas prices have plummeted in all 50 states in the weeks ahead of Thanksgiving, with $2.99 prices spreading like wildfire just in time for the start of the holiday season. Drivers will be saving over half a billion dollars from Wednesday through Sunday compared to what they spent last Thanksgiving with the national average at its lowest since January,” Patrick De Haan, head of petroleum analysis for GasBuddy, said.
De Haan says, “More Americans are planning on hitting the road for the Thanksgiving holiday this year, and it’s no wonder why.”.
The survey shows 41% of respondents said they plan to take a road trip this year, an 8% increase from 2022. Additionally, the national average price of gas is projected to drop to $3.25 per gallon.
AAA says it is going to be the busiest Thanksgiving in several years.
Key findings from GasBuddy’s 2023 Thanksgiving Travel Survey:
- 19% of respondents said they chose not to travel this year because inflation made fitting travel into their budget difficult
- 46% ranked gas prices as the most important factor when choosing a pitstop, compared to convenience/location, which was most important last year
- Over half of respondents, 55% said they will be using a cash back or loyalty program to save money on gas when they fill up
- Most plan to begin their trip Wednesday, 11/22 or Thursday, 11/23, and leave between 8 to 11 a.m.
- Of those choosing to take a road trip this year, 92% said they also traveled by car for Thanksgiving last year
- 39% of Americans said they are more interested in owning an EV than last year
- Of those more interested in owning an EV, 18- to 29-year-olds saw the most interest at 44%
As of Tuesday, prices in Augusta averaged $2.74 per gallon, down six cents from a week earlier, while the average in Aiken and Edgefield counties dropped four cents to $2.85.
Georgia’s gas price on Tuesday averaged $2.84 per gallon, down five cents from last week and down 33 cents from a year ago.
South Carolina prices dropped only one cent, averaging $2.96 on Tuesday. Although, that’s 34 cents down from last year, according to AAA.
“However, with the big drop in price, motorists are not seeing all stations lower prices as quickly and should to check their phone for the lowest prices before filling up,” De Haan says.
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