Saturday, July 13, 2024

Gas Prices Rise Ahead of Independence Day, Lowest July 4 Prices Since 2021

by BIZ Magazine

July 2, 2024, Dallas – Drivers gearing up for the Independence Day weekend might find a small relief at the pump this year. GasBuddy, the leading fuel savings platform, has projected that the national average price of gasoline on July 4 will be $3.49 per gallon, the lowest for the holiday since 2021. This price is just a penny lower than last year’s $3.50 per gallon but significantly more affordable than the $4.79 per gallon seen in 2022.

Gasoline prices had dipped to $3.39 per gallon in early June before rebounding slightly as oil prices climbed above $80 per barrel. Despite the recent uptick, several states are enjoying significantly lower gas prices compared to last year. Washington leads the way with a 71-cent decline per gallon, followed by Oregon (-60 cents), Utah (-44 cents), Colorado (-42 cents), Alaska (-42 cents), Wyoming (-41 cents), Idaho (-37 cents), Arizona (-31 cents), Montana (-28 cents), and South Dakota (-27 cents).

Conversely, some states have experienced price increases. Ohio (+23 cents), Indiana (+22 cents), Michigan (+14 cents), Georgia (+14 cents), and Delaware (+10 cents) have all seen gas prices rise compared to a year ago.

“For those hitting the road to celebrate Independence Day, gas prices have seen modest recent fluctuations, but most states are seeing prices near or even well below where they were a year ago,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “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. 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 survey, 45% of Americans plan to hit the road over Independence Day weekend. To save money on gas, drivers are encouraged to shop around for the best prices, especially when crossing state lines. Using tools like the GasBuddy app can help locate the most affordable gas prices. Additionally, drivers can sign up for the free Pay with GasBuddy card to save up to 25 cents per gallon on every fill-up.

About GasBuddy

GasBuddy is the leading fuel savings platform providing North American drivers with numerous ways to save money on gas. GasBuddy has delivered more than $3.5 billion in cumulative savings to its users through providing real-time gas price information at over 150,000 stations, offering cashback rewards on purchases with brand partners, and through the Pay with GasBuddy™ payments card that offers cents-off per gallon at virtually all gas stations across the U.S. As one of the most highly rated apps in the history of the App Store, GasBuddy has been downloaded over 100 million times. Acquired by PDI Technologies in 2021, GasBuddy’s publishing and software businesses enable the world’s leading fuel, convenience, QSR, and CPG companies to shorten the distance between the fueling public and their brands. For more information, visit www.gasbuddy.com.

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