Traffic speed prediction is an important topic in Intelligent Transport Systems (ITS). Although traffic speed prediction for real-life applications is burgeoning, the study of explaining and interpreting AI-based speed prediction is still in its initial stage. In this paper, we applied multiple advanced regression techniques, such as XGBoost and CatBoost optimized gradient boosting, Random Forest, and LASSO to predict traffic speed more accurately in the subsequent time windows. The experiment with prediction methods was conducted using the traffic speed data of the Seoul metropolitan road network. Each road segment represented as a node in the network is associated with neighboring roads within a configurable range. We picked heavily congested nodes as prediction targets. Then, we evaluated nearby road influences to determine critical contributions to the situation of the target nodes. We interpreted the model’s output and extracted the topmost influential neighboring nodes by using an ensemble of explainable artificial intelligence (XAI) techniques such as feature importance assessment using the GINI entropy function, Recursive Feature Elimination, Shapely Additive Explanation, and a method of measuring the impact of masked nodes. We validated the XAI interpretations through traffic flow simulation by tuning the topmost influential nearby roads’ speed and observing the effect on the roads’ traffic congestion relief correspondingly. We also proved our solution through local explanation techniques such as Local Interpretable Model-Agnostic Explanations. Our methods are applicable to any transport network and open the door to new strategies for controlling the specific nearby roads for effective congestion relief.