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Gas prices plummet amid 'bewildering' decline for oil as Thanksgiving travel approaches

November 15, 2018


Gas prices are plunging as the Thanksgiving holiday travel period approaches.

A dramatic drop in oil prices over the last several weeks is fueling the decline.

Gas prices neared a four-year high in October, when they briefly topped $2.90 per gallon, but have since retreated.

Ample global supplies of petroleum, which is refined into gasoline, have played a key role in delivering savings for consumers.

“Thanksgiving gas prices are getting carved up at a time of year when we’re all used to getting the turkey ready,” said Patrick DeHaan, senior petroleum analyst at fuel-finding app GasBuddy. “This is a fairly dramatic turnaround.”

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