U.S. oil production surge may drop gas prices below $3 per gallon by Thanksgiving.

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According to recent reports, the U.S. is producing a significant amount of oil, which is contributing to a decrease in gas prices. Analysts predict that by Thanksgiving, gas prices could fall below $3 per gallon in many states. This trend is driven by a combination of high oil production in the U.S. and a weakening oil market.

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Sources:

https://www.wvtm13.com/article/america-oil-consumption-gas-prices-2024/62078807

https://eurweb.com/2024/as-oil-market-dips-opec-scrambles-gas-prices-fall-below-3/

https://finance.yahoo.com/news/america-pumping-much-oil-gas-100020698.html