Thanksgiving gas prices projected to be highest in 5 years

GasBuddy on Tuesday projected the national average gasoline price for Thanksgiving will be at its highest since 2014. While it may lead to some complaints — 30% of Americans saying high prices are impacting their plans — it won’t slow them down much, with a 7% rise in motorists on the road for Thanksgiving 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. 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. First, expect the mediocre Detroit Lions and their fans, including me, to suffer for a third straight Thanksgiving Day. Second, expect the national average price of gasoline to be in the $2.50s for the third straight Thanksgiving. And third, expect average gas prices to drop between now and Christmas, giving motorists something extra to be thankful for,” said Patrick DeHaan, head of petroleum analysis at GasBuddy.