Gas Prices High Ahead of Busy Thanksgiving Holiday-US News | The Epoch Times

Gasoline prices remain historically high, frustrating drivers at the pump as they head into the Thanksgiving Day holiday, with AAA predicting 48.3 million drivers heading to holiday destinations, with numbers approaching 2019 levels. While the national average price of regular gas has eased a little in recent weeks, it was up at $3.398 a gallon on Nov. 24, which is 61 percent higher than a year ago. Since Labor Day, the price of crude oil tumbled into the mid-70s after being stuck above $80 a barrel, raising questions if this will translate into some relief at the pump for drivers. “The price of crude oil accounts for about 50%–60% of what consumers pay at the pump, so a lower oil price should translate into better gasoline prices for drivers, but until global oil production ramps back up to pre-pandemic levels, this recent dip in the price of crude may only be …

Bryan Jung

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