AAA Travel reports almost 46.9 million Americans will journey 50 miles or more from home during the Thanksgiving weekend.
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Today, the average price for gas nationally – and in MI – is $2.13 a gallon, two cents lower than it was on Tuesday and 67 cents lower than it was on Thanksgiving a year ago, AAA said. “With the holidays around the corner, individuals may use that money to travel to see family, buy gifts or they may use it to pad their savings accounts”. Gas prices are mostly based on oil prices, which have fallen by more than half since the summer of 2014 because of weak demand in Asia amid still-high production in the USA and traditional oil-producers like Saudi Arabia.
The average national price is still over $2 per gallon, but experts expect the national average to fall to that level by Christmas.
Despite the slight gain projected from past year, the figure is still 7.3% short of the 50.6 million high point reached in 2007, just before the Great Recession. More than 89 percent of holiday travelers will drive to their destinations, the AAA said. This has helped boost disposable income, enabling many Americans to travel this Thanksgiving. A few of the most expensive markets are out West, in California, $2.80, Nevada, $2.67, and Washington, $2.52, according to AAA. And hotel rates are relatively flat.
The average price has decreased 11 consecutive days. AAA recommends motorists check the condition of their battery and tires before heading out on a holiday getaway.
Matthew Armbruster, president of Armbruster Florist Inc., said the drop in gas prices is saving his Middletown business about $200 a week in fuel costs.
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The Apple Watch feature is a riff on the free AAA Mobile App for iPhone, iPad and Android that can be used to map a route, check gasoline prices, access member discounts and find AAA-rated lodging. Learn more at AAA.com/mobile.
