Gas drops below $2.50 in some states as Thanksgiving travel shatters records

Pump prices plunge to pre-COVID lows

Gas prices just dropped to their lowest Thanksgiving level since 2020, right when Americans need it most.

The national average is hovering around $3 per gallon, and in some states you can fill up for under $2.50. Meanwhile, AAA says this will be the busiest Thanksgiving travel week ever recorded.

The timing looks like a gift, but the reasons behind it tell a bigger story about what’s happening with oil around the world.

A Record Nobody Expected

AAA projects 81. 8 million Americans will travel at least 50 miles from home between November 25 and December 1.

That’s 1. 6 million more than last year, setting an all-time record for Thanksgiving.

The holiday has become the single busiest travel period of the year, beating out Memorial Day and the Fourth of July. Most of these travelers won’t be flying.

They’ll be loading up the car, packing snacks, and hoping the traffic isn’t too bad.

73 Million Choosing the Highway

Nearly 90% of Thanksgiving travelers are driving this year. That comes out to about 73 million people behind the wheel, 1.3 million more than last Thanksgiving.

Some planned to fly but changed their minds after recent flight cancellations made airports feel risky. Others just prefer the flexibility of driving.

Either way, gas prices matter more this week than any other week of the year for tens of millions of families.

Idaho Prices Drop Fast

Boise saw gas prices fall 6. 2 cents in just one week, bringing the average down to $3.29 per gallon. The cheapest station in the city hit $2.99 on Sunday, while the priciest was $3. 45.

That’s a 46-cent spread, so shopping around pays off. Across Idaho, prices range from $2.95 at the cheapest station to $3. 69 at the most expensive.

The statewide trend is heading down.

Oklahoma Wins the Price War

If you happen to live in Oklahoma, you’re paying just $2. 50 per gallon right now, the lowest in the country.

In total, 28 states have averages below $3, stretching from Colorado to New Hampshire to Georgia. The Midwest is seeing some of the sharpest drops.

Indiana fell 12. 3 cents in one week to $2.89. Denver hit $2.47, with one station briefly dipping below $2.

California Pays Nearly Double

California drivers are shelling out $4. 60 per gallon on average, the highest in the nation.

Hawaii, Washington, Nevada, and Alaska round out the top five most expensive states. Oregon and Arizona aren’t far behind.

The West Coast is dealing with tighter supply and higher state taxes.

Washington and Oregon also face ongoing issues from an Olympic pipeline shutdown that’s squeezing local fuel supplies.

Oil Crashes Below $60

The real reason gas prices are falling? Crude oil dropped below $60 per barrel this month for the first time since 2020.

Global supply is outpacing demand, and OPEC+ countries are ramping up production faster than expected. The International Energy Agency warns of a potential surplus heading into 2026.

For drivers, that translates directly to cheaper gas. Every $10 drop in crude typically shaves about 25 cents off a gallon.

Refineries Return to Full Speed

Autumn is maintenance season for refineries across the country.

Plants shut down parts of their operations for repairs and upgrades, which temporarily tightens fuel supply. That work is wrapping up now.

As refineries return to full capacity, more gasoline is flowing into the market just as demand softens heading into winter. The timing couldn’t be better for holiday travelers filling their tanks this week.

More Drops May Be Coming

Patrick De Haan, head of petroleum analysis at GasBuddy, says the outlook keeps improving.

With crude prices staying low and refinery output rising, he expects the national average could fall below $3 per gallon by Christmas. Winter typically brings lower demand anyway, since people drive less in cold weather.

If current trends hold, January could see some of the cheapest gas prices in years.

Three Storms Line Up

The forecast isn’t all good news. Three separate weather systems are threatening to disrupt travel this week.

Heavy rain is expected to sweep from Texas through the Great Lakes between Monday and Wednesday.

Parts of Oklahoma and North Texas are under flood watches, and there’s a slight risk of severe weather including large hail and possible tornadoes near Texarkana on Tuesday. Conditions should clear by Wednesday evening.

When to Leave and Return

AAA and traffic analysts agree on the best strategy. Leave before noon on Tuesday or Wednesday to avoid the worst backups.

Thanksgiving Day itself will have minimal traffic. If you’re heading home Friday or Saturday, get moving before 1 p.m. Sunday will be heavy all day.

Monday is the worst day to return, with traffic staying bad until after 8 p. m.

Morning departures beat afternoon ones every time.

The Rare Holiday Break

Low gas prices and record travel don’t usually happen together. When lots of people hit the road, demand spikes and prices tend to follow.

This year is different because the forces pushing prices down are bigger than the holiday rush. Crude oil is cheap, refineries are pumping, and global supply keeps growing.

For 82 million Americans heading somewhere for Thanksgiving, the math finally works in their favor.

This article was created with AI assistance and human editing.

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