Gas Prices Expected Below $3 for Thanksgiving

Gas prices in the U.S. are projected to fall below $3 per gallon just in time for Thanksgiving, driven by low crude oil prices and increasing supply despite a rise in holiday travel. AAA estimates that 71.7 million people will travel by car during the Thanksgiving period, a 1.3 million increase from last year. As of now, the national average is around $3.02, with prices in some states dropping as low as $2.25 to $2.50 per gallon. GasBuddy's Patrick De Haan notes that several states have experienced price fluctuations, yet overall trends indicate a decline. Cities like Columbus and Peoria report specific local price drops, with Columbus averaging $2.88 per gallon, 29.6 cents lower than last year. The decline in prices is attributed to a combination of reduced demand and increased refinery output.