Lower gas prices said boon for holidays

Gasoline price information

When Americans hit the road this year for Thanksgiving family gatherings, 31 percent of us say they’ll be traveling over 500 miles and another 31 percent will travel between 200 and 500 miles. This year, 92 percent of Americans are driving and just 6.5 percent say they’ll fly. But no matter how far they go or how much they think they save on gas … that doesn’t mean they’re looking for ways to spend it.

Of more than 81,000 Americans surveyed by GasBuddy this month, 71 percent said they expect to spend less on Thanksgiving this year.

“The Thanksgiving holiday is such a deeply-rooted part of who we are that families will always do what it takes to bring everybody together regardless of fuel prices,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “But the mood we’re getting from our survey results suggests that notably lower gas prices have brought a sense of relief, perhaps some optimism, and also a sense of caution.”

Among those traveling, more than 16 percent say that savings from lower gas prices is leading them to alter their plans. For some that may mean stretching the Thanksgiving holiday or avoiding traffic.

GasBuddy Thanksgiving Survey: Key Findings


When do they go? 36 percent say their Thanksgiving travel begins on Thanksgiving Day. 30 percent said it starts the day before; 18 percent say they’re hitting the road 2 to 3 days before.

What about the return trip home? 25 percent say they’ll fight the tryptophan malaise and drive home later on Thanksgiving Day; but the majority, 42 percent say they’ll wait 2 to 3 days and drive home Saturday or Sunday. 22 percent of Americans expect to hit the road with a fresh start the next morning.

How well prepared are they? 95 percent of respondents have a smart phone. 52 percent say they use two to three travel apps for their Thanksgiving travels; 34 percent will actively use four or more apps.

How much are we saving? Economists say most of us have saved at least $500 since June. Among consumers who use the GasBuddy app, 43 percent say they save from 6 to 9 cents per gallon on every purchase; 26 percent say they save from 10 to 14 cents; and 10 percent say they save from 15 to 30 cents per gallon. From Thanksgiving through the following Sunday, motorists collectively will save over $650 million on gasoline versus what they spent last Thanksgiving — or over $160 million a day.