Pumping Down Prices
Holiday travelers have one more thing to be thankful for: The lowest Thanksgiving gas prices since 2020.
Prices at the pump have come down for weeks, in the longest streak of declines since summer 2022. And it serendipitously aligns with the Thanksgiving travel surge.
Gas prices sit at a $3.27 national per-gallon average, according to GasBuddy. For reference, last year’s prices were $0.37 higher. Even just last month, prices were $0.26 higher.
The current price decline comes on the heels of falling oil prices driven by growing inventories. In other words, more supply means lower prices. And that means, driving to your Thanksgiving dinner will be cheaper.
Fueling the Economy
A record number of Americans are gearing up for Thanksgiving travel. The decrease in fuel costs is surely welcome news for the estimated 55.4 million people planning to hit the roads, with Wednesday predicted as the busiest day, according to AAA.
Even if you get stuck in traffic, be sure to save some special thanks at the Thanksgiving table for the lower price of gas.
Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.