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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 Posts:3,012 Points:819,060 Joined:Feb 2005	Message Posted: Dec 3, 2012 8:28:22 PM Ignore E-Squirrel Report Abuse 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]
honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Nov 29, 2012 12:01:52 AM Ignore honda0105 Report Abuse starting to climb again. Diesel already went up in some places and gas has picked up too in several areas.
honda0105 Champion Author Tallahassee Posts:18,609 Points:1,608,545 Joined:Nov 2008	Message Posted: Nov 28, 2012 5:52:41 AM Ignore honda0105 Report Abuse bobmilan: not sure you realize, but PD is Patrick DeHaan, whose job it is to watch oil and fuel prices for a living.
kuma2000 Champion Author Honolulu Posts:3,218 Points:673,175 Joined:Jun 2011	Message Posted: Nov 28, 2012 3:27:59 AM Ignore kuma2000 Report Abuse hopefully the prices of gasoline will decrease
bston Champion Author Oklahoma City Posts:1,815 Points:641,300 Joined:Mar 2011	Message Posted: Nov 28, 2012 1:25:05 AM Ignore bston Report Abuse Prices are sure to increase before years end.
RapMassaG Champion Author Cincinnati Posts:2,619 Points:1,051,625 Joined:Oct 2008	Message Posted: Nov 27, 2012 5:47:55 PM Ignore RapMassaG Report Abuse 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.
E-Squirrel Champion Author Orange County Posts:3,012 Points:819,060 Joined:Feb 2005	Message Posted: Nov 27, 2012 4:11:44 PM Ignore E-Squirrel Report Abuse 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"
Donatelo Champion Author Dayton Posts:1,121 Points:292,685 Joined:Apr 2011	Message Posted: Nov 27, 2012 3:17:42 PM Ignore Donatelo Report Abuse ok
rrs517 All-Star Author Colorado Posts:918 Points:343,505 Joined:Apr 2006	Message Posted: Nov 27, 2012 2:20:18 PM Ignore rrs517 Report Abuse 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
indyjim Champion Author Indianapolis Posts:10,088 Points:2,318,455 Joined:Jul 2006	Message Posted: Nov 27, 2012 10:52:54 AM Ignore indyjim Report Abuse 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.
WalkingWV Champion Author West Virginia Posts:3,701 Points:778,845 Joined:May 2008	Message Posted: Nov 27, 2012 10:07:34 AM Ignore WalkingWV Report Abuse Will be an even higher record for Christmas if they don't settle down in the middle east.
OldMan322 Champion Author Illinois Posts:5,150 Points:1,593,765 Joined:Jul 2008	Message Posted: Nov 27, 2012 9:00:01 AM Ignore OldMan322 Report Abuse Just more of the same old greedy crooks
rbrowdersr Champion Author Detroit Posts:5,718 Points:1,818,800 Joined:Aug 2006	Message Posted: Nov 27, 2012 7:47:02 AM Ignore rbrowdersr Report Abuse Much too expensive.
Jeffro61 Champion Author Cleveland Posts:2,267 Points:2,284,895 Joined:Oct 2005	Message Posted: Nov 27, 2012 6:07:40 AM Ignore Jeffro61 Report Abuse Old news.
LeeFree Champion Author Pittsburgh Posts:9,146 Points:2,242,475 Joined:Jun 2005	Message Posted: Nov 27, 2012 6:07:30 AM Ignore LeeFree Report Abuse Yep, still costs over $50 to fill up around here at $3.60/gal.
bikechuck Champion Author Indianapolis Posts:7,006 Points:2,062,145 Joined:Apr 2006	Message Posted: Nov 27, 2012 6:06:35 AM Ignore bikechuck Report Abuse 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.
pitamon Champion Author Philadelphia Posts:4,899 Points:1,825,385 Joined:Sep 2004	Message Posted: Nov 27, 2012 6:06:31 AM Ignore pitamon Report Abuse I saw 4 sations thi morning at $3.37.
Redink Champion Author Indianapolis Posts:7,190 Points:1,299,020 Joined:Aug 2005	Message Posted: Nov 27, 2012 6:05:06 AM Ignore Redink Report Abuse Prices will decline a few cents and then rise again.
oas Champion Author Maryland Posts:4,225 Points:2,140,440 Joined:Feb 2005	Message Posted: Nov 27, 2012 6:04:09 AM Ignore oas Report Abuse The key here is that we are at record levels.
ChristinaCricke Champion Author New Jersey Posts:3,737 Points:766,600 Joined:Mar 2011	Message Posted: Nov 27, 2012 6:03:49 AM Ignore ChristinaCricke Report Abuse LIFE IS TOO SHORT...NEED TO VISIT FAMILY WHILE WE CAN!
Alderaan Veteran Author Greenville Posts:492 Points:235,695 Joined:Feb 2012	Message Posted: Nov 27, 2012 6:01:57 AM Ignore Alderaan Report Abuse This is why we didn't travel.
chuckohio Champion Author Columbus Posts:1,253 Points:251,380 Joined:Aug 2012	Message Posted: Nov 27, 2012 6:01:09 AM Ignore chuckohio Report Abuse Still too high
prcoqui Champion Author Maryland Posts:3,950 Points:1,673,200 Joined:Dec 2006	Message Posted: Nov 27, 2012 6:00:42 AM Ignore prcoqui Report Abuse I'm glad we are 20 cents below that.
rick_evans Champion Author Boston Posts:3,719 Points:1,032,755 Joined:Aug 2005	Message Posted: Nov 27, 2012 5:59:06 AM Ignore rick_evans Report Abuse It would be nice if the Gasbuddy blog step aside for real news.
SaturnSC Champion Author Columbus Posts:1,051 Points:831,725 Joined:Nov 2008	Message Posted: Nov 27, 2012 5:57:45 AM Ignore SaturnSC Report Abuse Off
pfone1847 Champion Author Illinois Posts:3,181 Points:622,605 Joined:Oct 2010	Message Posted: Nov 27, 2012 5:57:09 AM Ignore pfone1847 Report Abuse blah blah blah
vamike Champion Author Virginia Posts:5,320 Points:1,363,975 Joined:Dec 2008	Message Posted: Nov 27, 2012 5:55:59 AM Ignore vamike Report Abuse 1/20/17
Prov1322 Veteran Author Atlanta Posts:360 Points:385,695 Joined:Nov 2011	Message Posted: Nov 27, 2012 5:55:14 AM Ignore Prov1322 Report Abuse 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.
Lengas Champion Author Gary Posts:13,545 Points:2,716,800 Joined:Nov 2004	Message Posted: Nov 27, 2012 5:54:14 AM Ignore Lengas Report Abuse Big Oil Manipilation
Ringmaster2008 Champion Author Ontario Posts:7,573 Points:1,163,560 Joined:Apr 2008	Message Posted: Nov 27, 2012 5:53:05 AM Ignore Ringmaster2008 Report Abuse OK
no_monkey2002 Champion Author Tallahassee Posts:8,415 Points:2,070,200 Joined:Mar 2006	Message Posted: Nov 27, 2012 5:51:38 AM Ignore no_monkey2002 Report Abuse give obama all the thanks for higher gas prices...he needs a raise.
hamdriver Champion Author Lansing Posts:3,479 Points:1,377,375 Joined:Feb 2008	Message Posted: Nov 27, 2012 5:51:12 AM Ignore hamdriver Report Abuse Old news
2parrots Champion Author Massachusetts Posts:1,551 Points:345,315 Joined:May 2012	Message Posted: Nov 27, 2012 5:49:18 AM Ignore 2parrots Report Abuse 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
Brucevanf Champion Author New Brunswick Posts:1,351 Points:243,310 Joined:Aug 2012	Message Posted: Nov 27, 2012 5:48:59 AM Ignore Brucevanf Report Abuse as expected
lindact Champion Author New Haven Posts:8,731 Points:1,715,995 Joined:May 2008	Message Posted: Nov 27, 2012 5:48:48 AM Ignore lindact Report Abuse Any dips will most likely be insignificant.
ILVET Champion Author Illinois Posts:14,789 Points:2,924,640 Joined:Jan 2005	Message Posted: Nov 27, 2012 5:48:22 AM Ignore ILVET Report Abuse Makes next Thanksgiving scary dosent it
isem Champion Author Missouri Posts:1,921 Points:422,210 Joined:Feb 2012	Message Posted: Nov 27, 2012 5:47:58 AM Ignore isem Report Abuse Déjà vu
epf Champion Author Grand Rapids Posts:6,329 Points:1,890,380 Joined:May 2004	Message Posted: Nov 27, 2012 5:47:22 AM Ignore epf Report Abuse We are at $3.53 average currently.
tc316 Champion Author Twin Cities Posts:10,781 Points:1,726,655 Joined:Apr 2007	Message Posted: Nov 27, 2012 5:46:55 AM Ignore tc316 Report Abuse Old
rjd1608 Champion Author Toledo Posts:5,356 Points:1,929,030 Joined:Aug 2003	Message Posted: Nov 27, 2012 5:46:28 AM Ignore rjd1608 Report Abuse still high in toledo
aburns20 Champion Author Virginia Beach Posts:3,256 Points:673,280 Joined:Dec 2010	Message Posted: Nov 27, 2012 5:45:57 AM Ignore aburns20 Report Abuse No change here as of this morning but I'm sure that will not last for long!
TWS658 Champion Author Portland Posts:4,543 Points:950,875 Joined:Sep 2005	Message Posted: Nov 27, 2012 5:45:31 AM Ignore TWS658 Report Abuse With Obozo around for an additional four years, the trend will go up.
Maintroll Champion Author Lexington Posts:8,629 Points:1,702,160 Joined:Aug 2008	Message Posted: Nov 27, 2012 5:44:37 AM Ignore Maintroll Report Abuse Nothing has leveled off in this area, in fact it went up by .30 plus cents per gallon.
Bildawg Champion Author Ohio Posts:1,066 Points:480,970 Joined:Oct 2011	Message Posted: Nov 27, 2012 5:42:59 AM Ignore Bildawg Report Abuse old
tomok Champion Author Portland Posts:32,980 Points:2,344,535 Joined:Aug 2006	Message Posted: Nov 27, 2012 5:42:22 AM Ignore tomok Report Abuse 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!
DrivingFool2 Champion Author Appleton Posts:8,582 Points:1,604,140 Joined:Apr 2005	Message Posted: Nov 27, 2012 5:41:41 AM Ignore DrivingFool2 Report Abuse Bring it down
gabisgram Champion Author Michigan Posts:2,191 Points:911,275 Joined:Sep 2006	Message Posted: Nov 27, 2012 5:40:17 AM Ignore gabisgram Report Abuse Old, and gas is still too high.
jeff95519 Champion Author California Posts:2,447 Points:1,353,265 Joined:Sep 2008	Message Posted: Nov 27, 2012 5:39:45 AM Ignore jeff95519 Report Abuse so then what
Bonanza Champion Author Boston Posts:12,081 Points:2,550,030 Joined:Jun 2004	Message Posted: Nov 27, 2012 5:33:09 AM Ignore Bonanza Report Abuse Yesterday's news
neptune2008 Champion Author Michigan Posts:8,568 Points:1,668,750 Joined:Aug 2008	Message Posted: Nov 27, 2012 5:31:36 AM Ignore neptune2008 Report Abuse well of course