Washington, D,.C., United States (AHN) – Holiday travelers will spend more at the pump to drive to grandma’s house for a turkey dinner this year.
Soaring gas prices will likely set record high prices for the Thanksgiving holiday despite the fact that prices have been falling.
According to price tracker GasBuddy.com, regular gas will probably average $3.37 per gallon next week. That price is up by 51 cents from Thanksgiving last year. Adjusted for inflation that price is still about 1 cent higher than the previous top holiday price of $3.08 per gallon in 2007.
However, it could have been worse if gas prices hadn’t fallen nearly 15 percent from the peak of $3.98 per gallon in June to the average $3.40 per gallon now.
Forecasts call for prices to come down even more, perhaps as low as $3.25 per gallon average across the nation.
However, analysts say not to get comfortable with price drops when they come because gas prices are expected to begin moving upward again in the spring, perhaps to 2011 peak prices.
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