Gas Prices Are Lowest In Months, Just In Time For Thanksgiving

Millions of Americans will be hitting the road for Thanksgiving and they’ll be paying less to fill up their tanks thanks to lower gas prices, according to GasBuddy. Research from the platform that helps you find the cheapest gas reveals the national average price of gas is projected to drop to $3.25 a gallon for the holiday. That’s great news for the 41% of respondents to their 2023 Thanksgiving Travel Survey who are planning to take a road trip for Turkey Day this year.

"Average gas prices have plummeted in all 50 states in the weeks ahead of Thanksgiving, with $2.99 prices spreading like wildfire just in time for the start of the holiday season,” says Patrick De Haan, head of petroleum analysis for GasBuddy. “Drivers will be saving over half a billion dollars from Wednesday through Sunday compared to what they spent last Thanksgiving, with the national average at its lowest since last winter.

GasBuddy’s 2023 Thanksgiving Travel Survey of more than 63-hundred Americans also reveals:

[READ NEXT: AAA's Best & Worst Times For Thanksgiving Travel]

Curious about which stores will be closed on Thanksgiving Day and whether they'll kick off early Black Friday sales? The landscape has shifted in recent years, with a growing number of major retailers opting to keep their doors closed on Thanksgiving. This differs from the previous years of the traditional practice of launching in-store Black Friday deals on Thanksgiving. Since 2020, many retailers have chosen to remain closed and instead offer online deals.

The positive response from consumers in 2020 influenced retailers in 2021 to once again close on Thanksgiving Day. Some retailers, such as Target, took a bold stance by declaring a permanent end to in-store shopping on Thanksgiving. In 2022, Walmart's CEO echoed this sentiment, affirming that staying open on Thanksgiving was now a thing of the past.

This shift towards closures on Thanksgiving Day reflects a changing consumer landscape and a commitment by employers to prioritize their workers. It's a change from not too long ago when people were scarfing down Thanksgiving dinner to rush to their favorite stores for Black Friday deals.

Black Friday, once synonymous with the official start of the holiday shopping season, has evolved. Retailers now initiate their holiday sales much earlier, with some starting promotions as early as October, like Amazon Prime Days. The focus is now on a mix of online and in-store deals spread out over a longer period.

Besides pleasing shoppers, closing on Thanksgiving can be seen by some as a smart move for businesses and the public image of retailers. This strategic move aligns with the trend of prioritizing a work-life balance and catering to changing societal expectations.

Take a look at some of the major retailers that will be closed on Thanksgiving below.

Despite its history of drawing massive crowds on Thanksgiving, Walmart, has confirmed that it will once again be closed on Thanksgiving Day in 2023.  On October 9, Walmart's CEO, John Furner, officially announced that the retail giant will maintain its tradition of staying closed on Thanksgiving Day for the fourth consecutive year, as reported by USA Today.

In a move to provide employees with some well-deserved time off, Best Buy has announced plans to shut its doors on Thanksgiving. If you're eager to snag deals, the retailer is set to kick off its Black Friday sales on Friday, November 17, as reported by Chain Store Age. The website will be available on Thanksgiving, offering you the opportunity to browse and shop.

Target made waves as one of the early adopters among big-box retailers, opting to remain closed on Thanksgiving in 2020. Continuing this trend, the retailer will once again keep its doors shut on Thanksgiving Day in 2023, marking the fourth consecutive year. A press release from 2021 highlighted the overwhelmingly positive response to this decision, stating, "The response was so positive that we'll carry it forward this year, keeping our Target stores closed all day long on Thanksgiving Day. This is just one example of how our evolving strategy is meeting the needs of our business and our guests." For eager shoppers, Target's website already has Black Friday deals across various categories, including electronics, toys, kitchen products, and cleaning supplies.

Home Depot is set to take a breather on Thanksgiving Day, closing its doors for the holiday. However, for shoppers looking for Black Friday savings, the good news is that the deals will be extended throughout the entire month of November. The main sale launches online on Thanksgiving Day, according to The Krazy Coupon Lady. Come Black Friday, the store will open its doors at 6 a.m.

Costco members likely won't be surprised that the membership warehouse club is closed for Thanksgiving Day. It's consistent with its practice for most major holidays. While closed on Thanksgiving, Costco is scheduled to open on Black Friday at 9 a.m. See the store's full list of holiday closures here.

Lowe's adheres to its longstanding tradition by closing its stores on Thanksgiving Day and Christmas Day, as shared on the company's website. This decision offers customers and associates time to celebrate with loved ones. On Black Friday, Lowe's stores will open early for those ready to begin their post-Thanksgiving shopping.

Sam's Club, affiliated with Walmart, will follow the lead of its parent company and close on Thanksgiving. However, Sam's Club isn't leaving shoppers without options. They will host a Thanksgiving Day online event. This virtual event starts on Turkey Day and continues through Saturday, November 26, 2023, encompassing the day after Black Friday.

In an acknowledgment of their employees during the holiday season, JCPenney has chosen to close on Thanksgiving Day. The retailer will open its doors at 5 a.m. on Black Friday. According to Chain Store Age, JCPenney's full Black Friday ad will go live online on the same day and remain available throughout the month. Shoppers can anticipate weekly releases of select Black Friday deals both online and in-store throughout November.