US Drivers Facing Lowest July 4 Gasoline Prices Since 2021

Drivers during the US Independence Day weekend are likely to see the lowest prices over the holiday period since 2021, according to GasBuddy.

• The national average of gasoline prices is forecast at $3.49/gal, down 1 cent/gal on the year.
• However, this is over $1.30/gal less than levels seen during 2022 following Russia’s invasion of Ukraine and the subsequent energy crisis.
• “While the first half of the summer has been relatively smooth sailing, the road ahead may be bumpy. Activity in the tropics has increased, and projections remain for a very busy hurricane season,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
• “Even after the holiday fireworks are over, we’ll be watching for any potential fireworks at the pump that could be brought on by hurricanes disrupting refineries.”
• According to GasBuddy’s annual summer travel demand, 45% of Americans plan to travel by road over the Independence Day weekend.