Far fewer expected to drive for Thanksgiving due to coronavirus risk

Vaccines are on the horizon but won’t be available soon enough to make the holidays normal again.

With virus cases surging, hospitals filling up and more U. S. states imposing restrictions, Americans are likely to drive a lot less this Thanksgiving. Only 35% will travel by car this year, down from 65% a year ago, according to survey from retail fuel tracker Gasbuddy.

“Survey results show continued anxiety from motorists even with the lowest Thanksgiving gas prices in years, highlighting the challenges we’re facing in this pandemic,” said Patrick Dehaan, head of petroleum analysis for Gasbuddy.

The survey underscores how much consumer patterns have changed this year and is especially relevant to an oil industry that has been clobbered by an unprecedented drop in demand. Government supply data released Wednesday shows gasoline stockpiles at the highest level for this time of year in almost three decades. At the same time, the national average pump price next week is projected to be $ 2.17 per gallon, the lowest Thanksgiving price in four years.

Gasoline demand hasn’t increased since the end of summer. Last week, demand as reflected by product supplied was about 900,000 barrels a day below where it was at the same time last year, according to the U. S. Energy Information Administration.

The cut in Thanksgiving travel will hurt most in large cities with coronavirus spikes where people have been advised to stay away from one another, Dehaan said. Rural areas will reflflect stronger holiday demand than cities.