Got Gas? Prices lower for the Thanksgiving holiday.
As Americans gear up to celebrate Thanksgiving with their loved ones, there is another reason to give thanks this holiday season – the steadily dropping gas prices.
This news comes as a relief for many who have felt the burden of high gas prices in recent months.
According to GasBuddy, the average price for gas in the metro Denver area is currently at $3.23 per gallon, a significant drop of 34 cents from just last month. This is also 16 cents cheaper than the current national average, which adds up to huge savings for Denver residents.
But what is the reason behind this sudden drop in gas prices?
Experts say it is a result of lower seasonal demand and the switch to less expensive winter-grade gas. As the holiday season rolls in, people tend to travel less, which decreases the demand for gas. Additionally, winter-grade gas is cheaper to produce, leading to further savings for consumers.
The good news of lower gas prices is not just limited to Denver. Gas prices are dropping nationwide, just in time for the busy holiday travel season.
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In fact, according to a Thanksgiving travel survey by GasBuddy, 41% of Americans are planning to hit the road this year, an increase of 8% from last year.
Overall, the national average gas price is projected to drop to $3.25 per gallon, resulting in an estimated $573 million in savings for holiday travelers compared to last year. This is better news for families who are looking to visit their loved ones.