Gas Prices to Reach New Low This Year for Obvious Reasons

2020 has been a crazy year so far (and it’s not even over yet!), and obviously, the global health crisis has really messed up our holiday plans.
Thanksgiving gas prices trends 5 photos
Photo: GasBuddy
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This Thanksgiving, for example, the number of American drivers taking the roads is expected to be substantially lower than in the previous years, simply because most people would stay home for safety reasons.

A study conducted by GasBuddy estimates that only 35 percent of Americans would actually travel this Thanksgiving season, a decrease from no less than 65 percent.

But on the other hand, gas is getting substantially cheaper for the most obvious reasons: with fewer people using their cars, stopping for a refill is no longer happening as often as before, so prices dropped as a result of the decreased demand.

The same source claims the national average gas price is expected to be $2.17 per gallon, the lowest since 2016.

The highest price for gas during the Thanksgiving season was reached in 2012 when drivers had to pay $3.44 per gallon, while in 2015, the cost per gallon dropped to no less than $2.05.

Interestingly enough, while people are trying to stay home and celebrate Thanksgiving in the comfort of their own living rooms, gas prices are what convince many to actually go on a trip.

Fifteen percent of those who said they are planning to travel said they are doing so to take advantage of gas prices, a significant jump compared to 6% of people saying the same last year and 2% in 2018. Seventy-nine percent of people said that gas prices are not impacting their travel plans,” the study reveals.

Indeed, there’s a growing trend for the number of people taking the road because of lower gas prices, with only 2 percent of the drivers citing this reason for going on a trip back in 2018, followed by an increase to 6 percent a year later.
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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