NEW YORK (MainStreet) -- The average price of a gallon of gas hit $2.81 last week for the Thanksgiving weekend — a result of strong crude oil output in the U.S. and Canada and weaker demand — and should stay under $3 a gallon into the heart of the holiday season.
Watch the video below for Jim Cramer's take on where oil prices will settle:
In fact, the U.S. Consumer Energy Alliance believes gasoline prices could even go lower this month, leaving more cash in consumers' pockets for the holiday shopping season.
How much cash? According to AAA, consumers are saving $250 million a day compared with June and July when gasoline prices were $3.68 per gallon. And on a percentage basis, AAA says the average American is saving 8.5% this year compared with the holiday travel season last year.
It really is a holiday miracle.