Thanksgiving Gas Prices Trending Up
Thanksgiving is projected to be pricier at the pumps than it has been in the last half decade, according to a new report.
GasBuddy estimates the national average gasoline price on Turkey Day will be at its highest since 2014. The projection also reported that 30% of Americans say high prices are impacting their plans, yet there will be a suspected 7% rise in motorists on the road over the holiday versus last year.
GasBuddy projects the national average gas price this Thanksgiving will be $2.56 per gallon, a penny higher than last year. The national average has seen a smaller decline since October than usual, part of the reason for the higher prices this Thanksgiving versus last year, the report said.
While prices have averaged a 10-cent decline from October to mid-November over the last decade, this year has seen a decline of just 5 cents over the same time frame.
“Change is hard, but when it comes to Thanksgiving, many things this year won’t be changing,” said Patrick DeHaan, head of petroleum analysis at GasBuddy. “…expect the national average price of gasoline to be in the $2.50s for the third straight Thanksgiving. And … expect average gas prices to drop between now and Christmas, giving motorists something extra to be thankful for.”
As of Monday, Honolulu gas prices had risen 2 cents per gallon over the previous week, averaging $3.53/g that day, according to GasBuddy‘s daily survey of 214 stations. Gas prices in Honolulu are 2.4 cents per gallon lower than a month ago and 17 cents per gallon lower than a year ago.
According to GasBuddy price reports, the lowest price in the state of Hawaii Monday was $3.13/g while the highest was $4.31/g, a difference of $1.18/g. The cheapest price in the entire country stood at $1.84/g while the most expensive was $5.09/g, a difference of $3.25/g.
The national average price of gasoline has fallen 3.3 cents per gallon in the last week, averaging $2.58/g Monday. The national average is down 7.7 cents per gallon from a month ago, yet stands 1.8 cents per gallon lower than a year ago.