Motorists to see highest Thanksgiving gas prices since 2014
MILWAUKEE (CBS 58) – Gas prices are expected to be the highest they’ve been since 2014 this Thanksgiving, according to gas price forecasting site, GasBuddy.
The site is projecting the national average gas price this Thanksgiving will be $2.53 a gallon, the priciest Thanksgiving in three years (2014: $2.79), though not as high as the peak on Thanksgiving in 2012 ($3.44).
GasBuddy says gas in the Milwaukee area is cheaper than the national average, with prices having fallen about six cents in the past week averaging around $2.51 a gallon.
“This year has been unique at the pumps. Gas prices spent much of the time in the weeks approaching Thanksgiving by rising when typically, they would be on a sizeable downward trend,” said GasBuddy analyst Patrick DeHaan. “On average Americans are paying nearly 40 cents a gallon more than last year, which means collectively we’re spending $800 million more on fuel over the Thanksgiving travel period. Drivers should pay close attention to prices to avoid overpaying.”
Despite higher gas prices, travelers are driving longer distances, according to GasBuddy’s Annual Holiday Travel Survey. Drivers are told to watch out for state lines as state taxes can impact the price of gas and are advised to avoid gas stations near the highway because they tend to be pricier.