No gas pump savings to gobble up this Thanksgiving week

ALBANY — It may end up being cheaper returning home from grandma’s house on Thanksgiving than driving to see her.

Market experts say drivers could see relief at the gas pumps — which will be at their highest levels since Thanksgiving 2014 — at the back side of the long holiday weekend. The travel period starts Wednesday and ends Sunday at midnight by travel industry reckoning.

It’ll also pay for motorists to shop around before filling up, market watchers say.

“Gas prices should decline 5-10 cents through Thanksgiving weekend,” Mark Jenkins, spokesman for AAA Auto Club Group, said. “Although gasoline demand will be high this week, it will be cheaper for gas stations to purchase their fuel than a week ago.

“Since retailers profit more off of concessions in their convenience stores than the sale of gasoline, they will be more likely to lower gas prices as a way to attract passing motorists.”

Prices likely will be uneven, with better deals just down the road. Filling up near airports and just off the interstate can prove to be a costly decision.

“Some of the lowest prices will be in areas where multiple gas stations are within close proximity of each other, leading to higher competition,” Jenkins said. “Oftentimes, gas stations wait until Friday to lower their prices, in hopes that managers of rival stations are not paying attention, or gone for the weekend.

“Some of the highest prices are often at gas stations in rural areas, near airports, and at interstate on/off ramps.”

A 16-gallon fill-up will cost a motorist about $6.50 more than it did last Thanksgiving. Despite the heavy holiday travel, gas prices are usually declining this time of year. And while they’re dropping some in recent days, the run-up to the holiday week has been out of the ordinary.

“This year has been unique at the pumps,” Patrick DeHaan, head of petroleum analysis at GasBuddy, said. “Gas prices spent much of the time in the weeks approaching Thanksgiving by rising when typically they would be on a sizable downward trend.

“On average, Americans are paying nearly 40 cents a gallon more than last year, which means collectively we’re spending $800 million more on fuel over the Thanksgiving travel period. Drivers should pay close attention to prices to avoid overpaying.”

Still, GasBuddy, which surveys thousands of retail gas locations across the country, predicts holiday travel (driving 10 or more hours during the period) will be up 4 percent compared to last year. AAA, which also surveys retail gas outlets, is forecasting a 3.3 percent travel increase (trips of 50 or more miles from home) compared to 2016.

Both surveys agreed on the national average Monday, which was $2.542. That’s a drop of 1.8-2.5 cents in a week, but up 8.4-9 cents since last month, depending on the survey. The year-over-year increase is 39.7-40.3 cents.

The surveys were within a few tenths of a cent for the Georgia average, which AAA had at $2.39 Monday. AAA’s Daily Fuel Gauge Report showed that to be a drop of 2.4 cents in a week and 1.8 cents below last month. It’s 27.8 cents more than Georgians were averaging last year.

GasBuddy’s state average of $2.393 showed a week-to-week increase of six-tenths of a cent and a rise of 1.9 cents since last month. It has the year-to-year difference at 27.9 cents more.

For the five-county metro Albany area, AAA’s survey had the average Monday pegged at $2.315, down 2.7 cents in a week and 1.8 cents below last month. Albany drivers were paying 30.6 cents more per gallon than the $2.009 the metro area averaged last year.

AAA’s Daily Fuel Gauge Report also expanded the number of Georgia metro areas that it reports from eight to 15 this week. Albany was fourth-lowest, trailing leader Dalton ($2.27), Warner Robins ($2.274) and Augusta ($2.302). Brunswick’s metro area had the highest average, $2.423, edging Atlanta’s $2.421.