US gas prices on July 4 may be the cheapest after 2021

According to what the fuel-saving platform GasBuddy announced on Tuesday, the national average gasoline price on 7/4 is expected to be $3.49 per gallon, which will be the lowest price on Independence Day since 2021.

While crude oil prices are rising, gasoline prices have been rising for the past few days, but the national average on 7/4 is still low compared to 2023 and 2022.

GasBuddy predicts that the national average gasoline price on July 4 will be only 1 penny lower than a year ago, when it was 3.50 dollars per gallon. However, this year's Independence Day prices will fall more than $1.30 per gallon during the 2022 holiday when the US economy overheats and crude oil prices exceeded $100 per barrel due to Russia's invasion of Ukraine.

Patrick de Haan, head of petroleum analysis at GasBuddy, said, “For people who go out to celebrate Independence Day, gasoline prices have fluctuated moderately recently, but in most states they are close to or far below what they were a year ago.”

“The first half of summer was relatively smooth sailing, but the road ahead may be uneven.

“Even after the year-end and New Year fireworks are over, we will keep a close eye on the possibility of fireworks at gas stations, which may be caused by hurricanes disrupting refineries.”

At the end of last month, the AAA announced that the number of Americans planning a trip during the holiday period around Independence Day was at a record high, and there is a possibility that this summer will benefit gasoline demand in America, which has been sluggish until now.

The AAA predicts that during the Independence Day holiday period from 6/29 (Sat) to 7/7 (Sun), there will be 70.9 million travelers heading 50 miles or more away from home.

According to AAA, the number of travelers during this period increased 5% compared to 2023 and 8% compared to 2019, and it is predicted that both the number of travelers by car and the number of travelers by aircraft will record record highs.