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Food prices may be higher and the roads in parts of the country may be covered with snow for Thanksgiving, but the pain will be lessened when drivers pull into gas stations. That's because the average price of a gallon of gasoline in the United States dropped 10 cents in the past two weeks, hitting a four-year low, according to the latest Lundberg survey released on Sunday.
Gasoline prices fell to $2.84 per gallon of regular-grade gasoline, the lowest level since November 2010, said the survey conducted on Friday. The decline in price was driven by lower crude oil prices, said Trilby Lundberg, publisher of the survey, released on Sunday."Circumstances continue to favor low oil prices," Lundberg said, adding the oil supply remained very abundant and that the stronger dollar helped. "For months now it has been crude oil leading the price down." The gasoline price is down about 41 cents a gallon from a year ago and has dropped 88 cents from a 2014 peak of $3.72 in May. AAA car lobbying group predicts that 46.3 million Americans will travel at least 50 miles from home over the holiday weekend, up 4.2 percent from last year and the most since 2007.
-- Reuters and NBC News