petroleum reserves, the nation s emergency supply, to help bring down gas prices. the president saying it s just one step in a larger plan, also speeding up action at key ports. americans paying on average $3.40 a gallon, $1.29 more than a year ago. the question tonight, how long before prices fall? abc s rachel scott now from the white house. reporter: with americans preparing for what could the most expensive thanksgiving yet, president biden taking action today to blunt some of the pain at the pump. the bottom line, we re launching a major effort to moderate the price of oil. an effort that will span the globe in its reach and ultimately reach your corner gagas station, god willing. reporter: for drivers, relief can t come soon enough. in just the past year, the average price for a gallon of gas has soared to $3.40. that s $1.29 higher than this time last year. to fill up my car, it s like $65. reporter: khadijah baxter and her four kids usually drive to spend thanksgiving