November 16, 2022

Highest Thanksgiving Gas Prices Ever, Yet 20% More Americans Plan to Hit the Road

As Americans prepare to hit the road for Thanksgiving, average gasoline prices will be at their highest seasonal level ever for the weekend according to GasBuddy, the leading fuel savings platform saving North American drivers the most money on gas. The national average is projected to stand at $3.68 on Thanksgiving Day – nearly 30¢ higher than last year, and over 20¢ higher than the previous record of $3.44 set in 2012. But that won't slow many down, with 20% more Americans planning to hit the road this year.

Thanksgiving Gas Prices

2022 has been a challenging year for drivers, breaking several records thanks to less global refining capacity and sanctions brought on by Russia's war on Ukraine. The number of Americans traveling over the weekend this year is up from 31% last year to 38%, a 20% rise, with 62% of Americans not planning on road tripping for Thanksgiving. Twenty-one percent say they are choosing not to drive due to high fuel prices.

Travelers can expect Wednesday afternoon between 11 a.m. and 2 p.m. to be the busiest on the nation's highways, and on Friday between 8 a.m. and 11 a.m. Twenty-three percent of respondents to GasBuddy's Thanksgiving survey say they'll spend one to three hours in the car, compared to 2021, when most indicated they'd travel less than an hour away. While 21% say high fuel prices are impacting their travel, surprisingly fewer are citing high gas prices this year (46% vs. 51% in 2021) for impacting their travel plans. Seventy-three percent of Americans traveling won't be crossing state lines to do so.

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