Thanksgiving grocery prices might be high. But road trip costs shouldn’t be
By Alexandra Skores, CNN
(CNN) — While the cost of Thanksgiving dinner has been on the rise in recent years, traveling home for the holidays shouldn’t be too pricey in 2024 — at least by car.
And the number of people hitting the road is on the rise.
Airports and the country’s major highways will be filled with Thanksgiving travelers headed away for the holiday. Almost 80 million people will travel over Thanksgiving, up 1.7 million compared to 2023, according to AAA, though the calculation includes two extra travel days from previous years.
Over 71 million people will go on a road trip over Thanksgiving, at a time when gas prices have lowered — offering one source of relief for cash-strapped travelers. The national average last Thanksgiving Day was $3.26. AAA predicts the national average below $3 a gallon for the first time since 2021.
“Thanksgiving is the busiest holiday for travel, and this year we’re expecting to set new records across the board, from driving to flying and cruising,” said Stacey Barber, vice president of AAA Travel Services.
Air traffic could see slowdowns, particularly in the Northeast, because of air traffic controller shortages, the Federal Aviation Administration said on Thursday.
Traveling by air is going to be moderately more expensive this year.
Airfares are averaging near $284 for domestic trips, jumping 9% from the same time last year, according to travel site Hopper. For international trips, like trips to a popular Thanksgiving destination in Europe, prices are about 20% more expensive than last year.
Prices are expected to spike as the holiday gets closer, Hayley Berg, lead economist at Hopper told CNN.
“Airlines have scheduled more seats over this Thanksgiving weekend than they did last year,” Berg said. “It’s going to be almost a 5% increase in scheduled capacity. We are expecting it to be another big record holiday week, and we are definitely very closely monitoring disruptions.”
The busiest airports for Thanksgiving include Hartsfield-Jackson Atlanta International Airport, DFW International Airport, Denver International Airport, Los Angeles International Airport and Chicago-O’Hare International Airport, based on the total number of scheduled departing seats available, according to Hopper.
The Transportation Security Administration is projected to screen 18.3 million people from November 26 to December 2, a 6% volume increase from the same time in 2023. The agency projects the busiest travel day to be the Tuesday and Wednesday before Thanksgiving and the Sunday after.
Inflation’s impact on holiday travel
For some, there’s hesitancy towards making a big trip this year. According to Bankrate, 83% of holiday travelers are changing their plans due to inflation. Some are cutting down the length of their trip, while others are picking less expensive accommodations or engaging in cheaper activities.
One reason for the hesitancy is that prices at the grocery store remain elevated to cook that classic Thanksgiving dinner. The Consumer Price Index, which measures the change in prices paid by consumers, rose to 2.6% for the last 12 months ending in October.
“They don’t want to skip the trip entirely, but they’re willing to make adjustments that lower the cost,” said Ted Rossman, Bankrate industry analyst.
For Amy Knebel Larsen, 44, of Sacramento, California and her family of four, Thanksgiving won’t mean a turkey this year, but it will mean a whole lot of travel.
Her 8-year-old son Nathan is racing in a USA BMX National Championship held in Tulsa, Oklahoma. They’re boarding Southwest Airlines flights with stops in non-hazardous weather cities, Phoenix and Las Vegas, to ensure Nathan’s BMX bikes make it to his race and they don’t get stuck in any bad weather.
They also didn’t take any chances with the price. They booked their flights shortly after Southwest released its schedule, so they wouldn’t be hit with expensive flights from the rush of traveling over a big week.
It’s their third time missing out on a traditional family dinner to watch him compete, but the family wouldn’t have it any other way.
“Thanksgiving is not about the day itself, it’s just about being with the people you love,” Larsen said. “…It doesn’t matter what we’re eating or where we are.”
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