By CBS13 Staff/Kurtis MingBy CBS13 Staff

SACRAMENTO (CBS13) – The average price of a gallon of gas in California has hit a new all-time high of $4.71, according to AAA.

In Sacramento, the average price is 4.72 a gallon. In Stockton, it’s $4.67, and in Modesto, it’s $4.61. Gas prices across the U.S. are about 60% more than last year.

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Over 48 million Americans will drive for Thanksgiving. That’s almost 4 million more than 2020 when the pandemic kept many people home.  The economy reopened this year as did the need for fuel; however, the oil production has yet to catch up, according to Gas Buddy.

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President Biden on Tuesday announced a plan to release oil from the Strategic Petroleum Reserve (SPR), in coordination with other countries, as part of efforts to tamp down high gas prices facing American consumers during the holiday season.

The Department of Energy will release 50 million barrels of oil from the SPR, of which 32 million will be an exchange of oil that will be returned in the years ahead, and 18 million will be the acceleration of a sale of oil previously authorized by Congress, according to the White House.

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A AAA study from a few years ago showed you could save about 20 percent on gas if you drive about five miles slower on the freeway than you normally do and are mindful of how often you have to slam on the brakes.