Low Gas Prices Favor Thanksgiving Road Travel

gas prices
Gas pumps | Image by kckate16

Polling ahead of the holiday season has revealed that many Americans are planning road trips, possibly due, in part, to falling gas prices.

GasBuddy released the results of its 2023 Thanksgiving Travel Survey on November 14, revealing that 41% of Americans plan to hit the road for the holiday. This is an 8% increase from 2022, suggesting that many are experiencing relief at the pump this year. Only 19% of those polled cited opting out of traveling this year due to budget reasons.

Although gas prices aren’t nearly as low as in 2020, when they hit an average of $2.11 a gallon, the projected average price of $3.25 per gallon is lower than the past two years of $3.39 and $3.56, respectively.

“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,” explained Patrick De Haan, head of petroleum analysis for GasBuddy. “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.”

The survey showed that despite the lower prices, Americans traveling over Thanksgiving will be looking to save cash wherever possible.

Representing an increase from last year, 46% of respondents said they would be choosing their pitstops based first and foremost on gas prices. Last year, the most important factor was convenience.

Similarly, 55% of this year’s respondents indicated they had signed up to benefit from a cashback or loyalty program whenever they fill up at the pump.

While more than 4 in 10 Americans will be taking road trips this holiday season, many others will be flying the friendly skies to reach their destination.

As reported in The Dallas Express, Dallas Love Field is anticipating a record-breaking number of travelers from November 16 to November 28. An estimated half-million passengers are expected to pass through the airport on their way to join loved ones, a 15-20% increase from 2022.

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