Gas Prices Declining as Holidays Approach
(NewsReady.com) – Gas prices have been a thorn in the sides of millions of Americans for more than a year. Costs rose in the wake of the pandemic because of supply and demand issues. However, good news is on the horizon.
According to AAA, gas prices are dropping in the country ahead of the holidays. From mid-October to mid-November, the cost of a gallon of regular gas went down from $3.82 to $3.66. Patrick De Haan, the head of petroleum analysis for GasBuddy, called the plummeting prices “terrific news.” He revealed that “thousands” of gas stations were selling gas for “under $3 per gallon.” De Haan predicted prices would fall to a national average of about $2.99 per gallon by Christmas.
U.S. gas prices on decline, could near $3 per gallon by Christmas https://t.co/OMD6uoUVny
— UPI.com (@UPI) November 21, 2022
Oil markets have seen falling prices in recent weeks. GasBuddy reported President Joe Biden’s decision to support immunity claims for Crown Prince Mohammed bin Salman (MBS) could ease tensions with the oil giant and result in the release of more supplies.
Meanwhile, global inflation remains a problem for countries around the world. As the holidays approach, people are feeling the squeeze on their pocketbooks and wallets. The energy crisis is of particular concern as prices rise, making it harder for people to heat their homes.
Still, the decline in gas prices is nothing to sneeze about as travel season approaches.
Are you planning to travel for the holidays?
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