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Fuel demand could spike this week as millions prepare for Thanksgiving travel

Crude oil, which makes up half the price of finished gasoline, dropped as low as $76 per barrel late last week
Right now, Idaho's average price for regular is $3.69. File photo
Right now, Idaho's average price for regular is $3.69. File photo((WENDELL FRANKS))
Published: Nov. 22, 2021 at 2:50 PM MST
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BOISE, Idaho (KMVT/KSVT) — Falling crude oil prices could relieve some pain at the pump for Idaho drivers, but according to AAA, the effect may be tempered by a spike in demand as 53.4 million Americans set out on a Thanksgiving vacation.

Crude oil, which makes up half the price of finished gasoline, dropped as low as $76 per barrel late last week, after staying at or above the $80 mark since mid-October. 

The drop came in response to fears that a COVID-19 resurgence could impact economic activity in the U.S. and Europe this winter, and a request by the Biden Administration to coordinate a simultaneous release of crude oil reserves between the United States, China, Japan, South Korea, and India to drive prices down.

Today, Idaho’s average price for regular is $3.69 per gallon, which is a penny less than a week ago and three cents less than a month ago.

The national average currently sits at $3.41 per gallon, which is the same as a week ago and three cents more than a month ago.  This week, the Gem State fell to ninth place for most expensive fuel.

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