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GasBuddy News Article

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National average levels off, sets Thanksgiving Day record

GasBuddy Blog -- Thanksgiving has come and gone, and with an average price of $3.43/gal on turkey day, it was indeed the most expensive Thanksgiving Day at the pump we've ever seen. The record set on Thanksgiving may also be a harbinger of what's to come in 2013, as I continue to assemble GasBuddy's 2013 gasoline price forecast.

For now, the national average has stalled, with prices rising versus where they were a week ago, and while we may see some movement lower in the weeks ahead, I doubt it'll be enough to be dubbed significant. From here on out, we tend to see the market digest turkey, or rather news from turkey day weekend shopping figures, and many times that can point to improvements in the economy (via personal spending) which certainly can...


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Submitted Nov 26, 2012 By: PD
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E-Squirrel
Champion Author Orange County

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Points:977,115
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Message Posted: Dec 3, 2012 7:28:22 PM

RapMassaG asserts:

"Thinking supply and demand have anything to do with it."

Sorry, no, that doesn't repeal the basic law of Supply and Demand. If legislation could control this, the politicians would have already given us inexpensive fuel.

If you don't understand these principles, you really should try buying some futures, it will give you a badly needed lesson in economics.

[Edited by: E-Squirrel at 12/3/2012 8:29:34 PM EST]
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honda0105
Champion Author Tallahassee

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Message Posted: Nov 28, 2012 11:01:52 PM

starting to climb again. Diesel already went up in some places and gas has picked up too in several areas.
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honda0105
Champion Author Tallahassee

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Message Posted: Nov 28, 2012 4:52:41 AM

bobmilan: not sure you realize, but PD is Patrick DeHaan, whose job it is to watch oil and fuel prices for a living.
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kuma2000
Champion Author Honolulu

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Message Posted: Nov 28, 2012 2:27:59 AM

hopefully the prices of gasoline will decrease
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bston
Champion Author Oklahoma City

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Message Posted: Nov 28, 2012 12:25:05 AM

Prices are sure to increase before years end.
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RapMassaG
Champion Author Cincinnati

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Message Posted: Nov 27, 2012 4:47:55 PM

ROFL @ E-Squirrel. Thinking supply and demand have anything to do with it.

hahahah. Hasn't been the case since the CFMA was passed in 2000.
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E-Squirrel
Champion Author Orange County

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Message Posted: Nov 27, 2012 3:11:44 PM

rrs517 asserts:

"The real reason is speculators..."

No, that wouldn't make any sense, would it? Speculators that only want to make money on Thanksgiving? Is that what you really think?

Go back and examine the economic principle known as the Law of Supply and Demand.

Wikipedia entry on "Supply and Demand"
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Donatelo
Champion Author Dayton

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Message Posted: Nov 27, 2012 2:17:42 PM

ok
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rrs517
Champion Author Colorado

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Message Posted: Nov 27, 2012 1:20:18 PM

The real reason is speculators - this is legalized gambling where the public pays for the chips and the speculators skim incremental profit from the price fluctuations - both up and down - it is a Lose-Lose situation for the public
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indyjim
Champion Author Indianapolis

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Message Posted: Nov 27, 2012 9:52:54 AM

All the reasons that are given for price increases are just excuses to cover up the REAL reason..............greed and gouging. Our govt. should be protecting us from that but they're too busy determining how they can get their next pay increase through or which insider trading deal they will invest in.
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WalkingWV
Champion Author West Virginia

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Message Posted: Nov 27, 2012 9:07:34 AM

Will be an even higher record for Christmas if they don't settle down in the middle east.
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OldMan322
Champion Author Illinois

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Message Posted: Nov 27, 2012 8:00:01 AM

Just more of the same old greedy crooks
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rbrowdersr
Champion Author Detroit

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Message Posted: Nov 27, 2012 6:47:02 AM

Much too expensive.
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Jeffro61
Champion Author Cleveland

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Message Posted: Nov 27, 2012 5:07:40 AM

Old news.
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LeeFree
Champion Author Pittsburgh

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Message Posted: Nov 27, 2012 5:07:30 AM

Yep, still costs over $50 to fill up around here at $3.60/gal.
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bikechuck
Champion Author Indianapolis

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Message Posted: Nov 27, 2012 5:06:35 AM

I don't look for any improvement in gas prices and when Obama wins his tax hikes added to the cost of this new health care system and food stamps, our economy will suffer.
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pitamon
Champion Author Philadelphia

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Message Posted: Nov 27, 2012 5:06:31 AM

I saw 4 sations thi morning at $3.37.
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Redink
Champion Author Indianapolis

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Message Posted: Nov 27, 2012 5:05:06 AM

Prices will decline a few cents and then rise again.
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oas
Champion Author Maryland

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Message Posted: Nov 27, 2012 5:04:09 AM

The key here is that we are at record levels.
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ChristinaCricke
Champion Author New Jersey

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Message Posted: Nov 27, 2012 5:03:49 AM

LIFE IS TOO SHORT...NEED TO VISIT FAMILY WHILE WE CAN!
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Alderaan
Champion Author Greenville

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Message Posted: Nov 27, 2012 5:01:57 AM

This is why we didn't travel.
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chuckohio
Champion Author Columbus

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Message Posted: Nov 27, 2012 5:01:09 AM

Still too high
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prcoqui
Champion Author Maryland

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Message Posted: Nov 27, 2012 5:00:42 AM

I'm glad we are 20 cents below that.
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rick_evans
Champion Author Boston

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Message Posted: Nov 27, 2012 4:59:06 AM

It would be nice if the Gasbuddy blog step aside for real news.
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SaturnSC
Champion Author Columbus

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Message Posted: Nov 27, 2012 4:57:45 AM

Off
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pfone1847
Champion Author Illinois

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Message Posted: Nov 27, 2012 4:57:09 AM

blah blah blah
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vamike
Champion Author Virginia

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Message Posted: Nov 27, 2012 4:55:59 AM

1/20/17
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Prov1322
Champion Author Atlanta

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Message Posted: Nov 27, 2012 4:55:14 AM

As others have said...when W was president it was a constant drumbeat of how it was all W's fault...now, with The One (LOL) it is "the new normal" and no big deal to pay higher prices.
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Lengas
Champion Author Gary

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Message Posted: Nov 27, 2012 4:54:14 AM

Big Oil Manipilation
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Ringmaster2008
Champion Author Ontario

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Message Posted: Nov 27, 2012 4:53:05 AM

OK
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no_monkey2002
Champion Author Tallahassee

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Message Posted: Nov 27, 2012 4:51:38 AM

give obama all the thanks for higher gas prices...he needs a raise.
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hamdriver
Champion Author Lansing

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Message Posted: Nov 27, 2012 4:51:12 AM

Old news
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2parrots
Champion Author Massachusetts

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Message Posted: Nov 27, 2012 4:49:18 AM

Mainstream propaganda,while price increases must be Bush`s fault ,{ four years on },The "lord & savior",to quote Jamie Foxx, { BET Awards , I believe } ,is blameless for any price increases & totally in control when there is a drop in prices
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Brucevanf
Champion Author New Brunswick

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Message Posted: Nov 27, 2012 4:48:59 AM

as expected
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lindact
Champion Author New Haven

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Message Posted: Nov 27, 2012 4:48:48 AM

Any dips will most likely be insignificant.
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ILVET
Champion Author Illinois

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Message Posted: Nov 27, 2012 4:48:22 AM

Makes next Thanksgiving scary dosent it
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isem
Champion Author Missouri

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Message Posted: Nov 27, 2012 4:47:58 AM

Déjà vu
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epf
Champion Author Grand Rapids

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Message Posted: Nov 27, 2012 4:47:22 AM

We are at $3.53 average currently.
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tc316
Champion Author Twin Cities

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Message Posted: Nov 27, 2012 4:46:55 AM

Old
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rjd1608
Champion Author Toledo

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Message Posted: Nov 27, 2012 4:46:28 AM

still high in toledo
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aburns20
Champion Author Virginia Beach

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Message Posted: Nov 27, 2012 4:45:57 AM

No change here as of this morning but I'm sure that will not last for long!
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TWS658
Champion Author Portland

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Message Posted: Nov 27, 2012 4:45:31 AM

With Obozo around for an additional four years, the trend will go up.
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Maintroll
Champion Author Lexington

Posts:11,366
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Message Posted: Nov 27, 2012 4:44:37 AM

Nothing has leveled off in this area, in fact it went up by .30 plus cents per gallon.
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Bildawg
Champion Author Ohio

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Message Posted: Nov 27, 2012 4:42:59 AM

old
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tomok
Champion Author Portland

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Message Posted: Nov 27, 2012 4:42:22 AM

National average levels off, sets Thanksgiving Day record, a sign of things to come. Higher fuel prices, Sneeky is pushing EV's, Inbreds and renewable energy. Sneeky has been spending so much money ever since he gained that position and 'you' have to pay for it somehow and this is one way to do it. 'Four More Years!'
Big Oil and Big Gas continues to sell fuel and natural gas on the world market for higher prices, there will be NO price reduction for the cost of fuel or natural gas IN the US. 'Coming out of the closet' Sneeky's lousy, smoke and mirrors, lack of jobs, dog and pony show and in the crapper economy, the jobs are Not here. Sneeky's economy is not improving but continues to hurt the population and the job numbers continue to be down! Sneeky's mishandling of the US government, huge federal government debt (and growing) and the most important item: the 'idiot sheep' that voted this obomination back into office. More refineries is Not the answer, keep the fuel and natural gas here.
Whatever the size or shape of the vehicle, vehicle manufactures Produce and the population ‘Drives’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
XII/XXII/MMXII!
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DrivingFool2
Champion Author Appleton

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Message Posted: Nov 27, 2012 4:41:41 AM

Bring it down
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gabisgram
Champion Author Michigan

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Message Posted: Nov 27, 2012 4:40:17 AM

Old, and gas is still too high.
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jeff95519
Champion Author California

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Message Posted: Nov 27, 2012 4:39:45 AM

so then what
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Bonanza
Champion Author Boston

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Message Posted: Nov 27, 2012 4:33:09 AM

Yesterday's news
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neptune2008
Champion Author Michigan

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Message Posted: Nov 27, 2012 4:31:36 AM

well of course
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