On Thanksgiving Day in the U.S., drivers can anticipate the most affordable gas prices since 2020. As of Monday, the national average for a gallon of regular gas stood at around $3.31, marking a decrease of 25 cents from a month ago and 36 cents from the same period in 2022, according to AAA.
GasBuddy predicts that the national average price for a gallon of gas could dip to $3.25 by Thursday, making it the lowest Thanksgiving Day price since 2020 when the Covid-19 pandemic significantly reduced demand, causing gas prices to plummet to $2.11 per gallon.
As of Monday, gas prices had fallen below $3 a gallon in 11 Southern and Midwestern states, including Alabama, Arkansas, Georgia, Iowa, Louisiana, Mississippi, Missouri, Oklahoma, South Carolina, Tennessee, and Texas, as reported by AAA. On Thanksgiving Day
The decline in gas prices has persisted for nine consecutive weeks, constituting the longest downward streak since the summer of 2022, according to Patrick de Haan from GasBuddy.
More than 65,000 gas stations are selling gas at $2.99 per gallon or less right now and another five states could see average prices below $3 per gallon by Thanksgiving, de Haan said.
“Americans collectively going to spend about $1.2 billion less on gasoline from Monday through Sunday from last year,” de Haan said.