We are seeing a slight relief in gas prices.
Gas prices will not decrease dramatically because the White House plan is to release 50 million barrels of oil in two parts: 32 million barrels will be exchanged and 18 million will be sold.
The idea is to increase the supply of oil, which would push gas prices down.
According to the U.S. Energy and Information Agency (EIA), as of Nov. 22, the national average price of gasoline in the U.S. was at $3.39 a gallon — in December 2020 gas prices on average were at $2.19 per gallon.
Retail gas prices are mainly affected by crude oil prices and the level of gasoline supply relative to gasoline demand, the EIA states on it’s website.
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