LITTLE ROCK, Ark. – With national gas prices reaching their highest level in years, President Biden is taking action to try and lower the cost at the pump just in time for the holidays.
Today, Biden announced around 50 million barrels of oil will be released from the strategic petroleum reserve in an effort to hit the brakes on climbing gas prices. But oil analysts say drivers probably won’t see the impact in time for Thanksgiving travel, and it’s still not clear what the eventual impact will be.
“It’s unlikely at this point that that announcement will have an immediate impact on gasoline prices for the Thanksgiving holiday,” Nick Chabarria with AAA explained.
According to Chabarria, around 53 million Americans will be traveling for Thanksgiving, a 13% increase from last year during the pandemic. 90% of travelers will be doing so by road, driving around and out of Arkansas to reach loved ones and celebrate the holiday.
Gas prices nationally had plateaued over the past few days around $3 a gallon, an 8-year-high, with some states even seeing the dollar amount decrease by a few cents. But oil analysts say a major nationwide decrease probably won’t be felt for some time.
With prices holding firm, the best advice oil analysts can give is to focus on where to fill up instead of when, looking ahead to your route and spending this week prepping your car for a road trip instead of focusing on fuel.
“It will certainly help save some money if you fill up prior to leaving the state rather than filling up when you’re already on the road,” Chabarria said, since Arkansas has the second lowest gas prices in the country. Another good road trip tip is to check your car before hitting the highway and focus on “BET”: battery, engine, and tires, making sure to fill up on air as well as gas; low tire pressure can unnecessarily use up fuel