of gas down to 3.35 a gallon. that is still high, but it s actually a seven-week low, down from 3.42 a month okay and that s for two big reasons. one, the u.s.-led intervention in energy markets really stopped the oil rally in its tracks. the president announced the biggest ever release of emergency barrels from the strategic petroleum reserve. really more of a band-aid than a long-term fix but it has cooled prices off. the other factor is more ominous here and those omicron. you know, initially there were a lot of fears on wall street that this would really slow down energy demand. the good news is those concerns have sed over omicron but that s actually lifted oil prices, ana, have you to remember that gas prize move with a lag to oil so the fact that oil prices have moved back up suggest that maybe the relief on the gasoline front may be short lived. then there s the natural gas which is experimenting an even bigger drop right now. is that expected to last?
oil from the nation s strategic petroleum reserve. by the time that break the glass moment actually happened, oil prices were down by 10% fromme their peak and that has started to trickle down to gasoline prices which move with the lag. the national average down to $3.35 a gallon. that is not cheap, but it is a seven-week low and it is moving in the right direction. the other big factor here is covid. fears about omicron really sent oil prices crashing after thanksgiving. there were really big worries about what that would do to the economy. thankfully some of those covid fears have started to fade in recent days but that is also driven oil prices back up. so, jake, the fact we re seeing oil rebound, it calls into question how sustainable the relief at the pump is really going to be. this dramatic decline in natural gas is a bigger deal, i think, than these 4 cents a gallon for gas going down. and it s a good sign for home heating costs, as we come into
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this week s thanksgiving travel could be the busiest since the pandemic with aaa predicting some 53 million people out and about but there may be some bumps ahead as gat prices hit highs not seen in seven years. joining me now from tampa is nbc s stephanie stanton. stephanie, big welcome to you. what are the travelers saying about the high gas prices this holiday season? reporter: yeah, good afternoon to you, alex. well, naturally, as you might imagine, they are not happy about it. however, even though gas prices are hovering around seven-year highs, officials say it doesn t seem to be putting too much of a damper on holiday travel. now, here in florida, our gas prices are about $1.33 higher than where we were a year ago on average. and across the state, the average price for a gallon of unleaded hovering around $3.35 a gallon. we are creeping a bit towards that all-time high set back in 2008. that was at $4.08 a gallon but
about these gas prices. however, aaa says the gas prices themselves are not really putting a damper on holiday travel. here in the state of florida, we are seeing the highest gas prices of the year. we are up about $1.33 from where we were last year. the average price across the sunshine state, $3.35. that is slightly lower than the national average of about $3.42. it is a lot lower than what we are seeing in places like california, as you mentioned. california, the average price there in the golden state, $4.70. it is a staggering number, and in some places, they are seeing gasoline even $6 a gallon or higher. so, it is quite a bit, and officials here in the state of florida, they are so concerned about the gas prices in this state that governor ron desantis is urging the state legislature to cut the gas tax by about 25 cents a gallon, hoping that will maybe cause some temporary relief for folks who live here. but as you mentioned, the