Gas Prices Expected to Drop Below $2 by Thanksgiving

Graphic: GasBuddy.com

Those driving to grandma’s house will have one more thing to be thankful for this Thanksgiving: Gas prices nationwide are expected to drop below $2 per gallon of regular unleaded, and hover around $2 in the Chicago area.

Marking the cheapest gasoline prices since 2009, the low prices are showing up just in time for millions of motorists that are heading out. According to GasBuddy, Americans will save $1.5 billion over the five days when a recent survey found most motorists will be traveling.

By Thanksgiving Day (Thursday, Nov. 26) the national average will be $1.99 per gallon, nearly

80 cents per gallon cheaper than last year and $1.29 per gallon cheaper than 2013. As prices at the pump continue to plunge, GasBuddy reports the number of states seeing average prices under $2 per gallon have more than tripled in the last two weeks.

Nearly 19 states -- nearly 60 percent of all U.S. gas stations -- are new selling before $2 per gallon.

The deep plunge bucks past trends when most motorists expect gas prices to go up right before a national holiday.

“November gas prices have slid significantly lower and holiday travelers will certainly be the beneficiaries,” said Patrick DeHaan, a senior petroleum analyst with GasBuddy. “It’s a trend we expect will continue through the end of 2015, so if you like the prices you see on Thanksgiving, you’ll be delighted when Christmas arrives.”

About 46.9 million Americans are expected to hit the road during Thanksgiving 2015, a 0.7 percent increase over last year, AAA Travel says.