Drivers have a reason to celebrate this July 4th as low gas prices make their way to the forefront, with costs at the pump expected to reach their lowest levels since 2021.
According to GasBuddy, a fuel savings platform, the average price of gasoline on Independence Day is predicted to be $3.49 per gallon nationwide. This marks the lowest price for the busy travel holiday in three years.
This drop in fuel costs translates to significant savings for the 60.6 million motorists expected to travel by car to celebrate the federal holiday, as reported by AAA.
- Last year: The national average price of gas was $3.50 per gallon, just a penny higher than this year’s projected price.
- In 2022: The average cost of gas was over $1.30 higher than this year’s expected price, influenced by the spike in oil prices following Russia’s invasion of Ukraine in February.
With these favorable conditions, drivers can enjoy their holiday travels with less strain on their wallets, making this year’s Independence Day celebrations even more enjoyable.
As gas prices slightly tick upward since early June, many are on the lookout for where gas is cheapest. Back then, prices had dropped to as low as $3.39 per gallon, but the situation has changed a bit now.
States with the Lowest Gas Prices
Despite the recent increase, some states continue to enjoy significantly lower fuel costs compared to the current national average. For instance, in Washington, average gas prices have decreased by 71 cents per gallon compared to a year ago.
Potential Price Spikes Ahead
However, De Haan cautioned that the coming months could bring some challenges. Hurricanes and other tropical weather events have the potential to disrupt refineries, which could, in turn, cause a spike in prices at the pump later in the summer.
As you plan your summer travels, it’s wise to stay informed about gas prices in your area and be prepared for potential fluctuations. Keeping an eye on trends and staying updated with reliable sources like GasBuddy can help you navigate these changes effectively.
Top Tips for Fuel Efficiency
- Avoid unnecessary idling; turn off the engine if you expect to be stopped for more than a minute.
- Keep your tires properly inflated to reduce rolling resistance.
- Use cruise control on highways to maintain a constant speed.
- Remove excess weight from your car; lighter vehicles use less fuel.
By following these tips, you can make your road trips more economical and enjoyable, even amidst a busy hurricane season. Stay safe and drive smart!