Thanksgiving road trippers are getting some relief on their travel budget this year: the cost of gasoline is the lowest it's been for the holiday week since 2020.

The U.S. Energy Information Administration says gas prices averaged $3.04 nationwide on Nov. 25 the Monday before Thanksgiving. That's seven percent lower than last year and the lowest price for that date since 2020, even adjusted for inflation.

The EIA is quick to point out that gas prices are influenced by a number of factors including local supply and demand, the season (summer is highest), and crude oil prices. Regionally, gas is typically most expensive on the west coast and least expensive in the Gulf Coast states, where it averaged $2.64 a gallon on Nov. 25.

In 2022, the average price of gas spiked above $5. 

The price of gas is one consideration that may influence purchases of electric vehicles, but it's not always easy to tell how much you'll save given the cost of electricity. You can compare those relative prices and see which type of vehicle energy source comes out ahead.