Now here’s something to be thankful for: Gas prices are rapidly declining and, if they hit $3.25 on Thursday, will be at their lowest price since Thanksgiving Day 2020, according to CNBC News.
Gas prices have been receding since late September, reaching a national average of $3.31 on Monday—36 cents lower than the same time period in 2022, according to AAA. Prices are down over 15% since Labor Day, according to Bespoke Investment Group.
Bespoke also said the Labor Day to Thanksgiving Day descent ranks as the sixth-largest decline for the period in the last 20 years.
That’s a good trajectory for President Joe Biden heading into 2024. It takes off a bit of pressure as consumers start to weigh Biden’s economy against the idea of trading in democracy as we know it for Trump’s fascist makeover of the U.S.
Voters’ views about economy and pocketbook issues tend to cement around late spring and early summer, so hitting that timeframe with relatively reasonable or even low gas prices would be one less data point for Republicans to push and voters to obsess over.
Kerry Eleveld
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