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Bit of good news in the short-term for them. right now it is ridiculous at this time of moment. my husband being a truck driver, so right now he s paying, like, $600, $700 a gallon, you know, traveling back and forth. i m glad the gas went down. it is making people feel a whole lot better. how much lower do you want it to go? i would say probably in the $2 range. about $2.50, $2.75, i think people would be satisfied. reporter: okay, $2.50 and $2.75, pretty unlikely. a year go we saw gas at $3.17 for a gallon of regular on average, though patrick duhan of gas buddy says we could see gas slip by another dime, $3.49 on average, by the end of this week. the biden administration trying to take a lot of credit for this. ....
His flight was canceled over the weekend, between new york and washington. no one can really escape this, dana. no. they sure can t. thank you so much for that, pete. appreciate it. so if you re listening to pete s report or if you had experience that he just described at the airport, you think, well, i m going to get in the car, guess what, there is not going to be much relief when it comes to your wallet there. gas prices are dropping slightly but still remain near record highs. nationwide, a gallon of regular gas averages $4.98. it is a drop of 3 cents from last week. joining me now is patrick duhan, head of petroleum analysis at gas buddy. i m trying to find a silver lining here and i don t know if you have one with the gas prices. it is three cents, but do you have any optimism given your experience and read on this that those numbers, that those numbers will continue to at least in a small way come down as summer driving season really ....
To agree is a distinct possibility this summer. we have hit it here in chicago. today s record comes as a new analysis estimates americans will spend $5,000 on gas alone this year. that s up by $2,200 last year. even with the historic high prices, triple a estimates more americans will hit the rad this memorial day weekend compared to a year ago when gas was $1.50 cheaper that strong sum travel demand could drive up prices more. one analyst said the national average could hit $6 in the coming months. gas buddy s patrick duhan says driver will say enough is enough before we hit that mark. i think consumers would start to see big drop in desire to hit the road and demand will kick in somewhere in the mid fives, i estimate. ....
Nations about whether to ban russian energy. this as the price of gas, not adjusted for inflation, for the price of gas in the united states has reached record levels. joining me now is the head of petroleum analysis for gas buddy, patrick duhan. this breaking news just in. the u.s. banning russian oil imports. what is the significance of that? well, certainly it causes a lot more strife at the nation s refineries that turn oil into gasoline, because they have to jump to other sources that they can find to make their feed stocks, blend stocks into their refineries. so expect a further jump in the price of oil with this announcement. it makes things a little bit harder, you know, but compared to the eu, which imports about 4.5 million barrels of russian crude oil, the u.s. is relatively safe without russian imports. but europe certainly is much more hostage to the russians for oil. the u.s. imports 10% of its ....