Introduction
Introduction Statistics Contact Development Disclaimer Help
.-') _ .-') _
( OO ) ) ( OO ) )
.-----. ,--./ ,--,' ,--./ ,--,'
' .--./ | \ | |\ | \ | |\
| |('-. | \| | )| \| | )
/_) |OO )| . |/ | . |/
|| |`-'| | |\ | | |\ |
(_' '--'\ | | \ | | | \ |
`-----' `--' `--' `--' `--'
lite.cnn.com - on gopher - inofficial
ARTICLE VIEW:
Fourth of July gas hasn’t been this cheap since 2021
By Matt Egan, CNN
Updated:
5:00 AM EDT, Tue July 1, 2025
Source: CNN
Drivers hitting the road this Fourth of July weekend won’t need to
break the bank to fill up at the gas pump.
Gas prices are expected to average between $3.10 and $3.15 per gallon
nationally this Fourth of July, according to GasBuddy, which tracks
fuel prices.
That’s down sharply from $3.49 per gallon last year and would
represent the cheapest gas for the summer holiday since at least 2021.
If the national average drops below $3.12 per gallon, it would be the
lowest Fourth of July price for gas since 2020 during the height of the
Covid-19 pandemic, according to GasBuddy.
Muted gas prices represent one of the biggest bright spots in the US
economy, which has suffered from and vast uncertainty caused by the .
Last month’s Israel-Iran conflict interrupted the trend of cheaper
gas prices – but only briefly.
after Israel and then the United States launched attacks on Iran,
fanning fears of a regional war that could derail the region’s vital
energy supplies. Gasoline prices started climbing sharply, threatening
to make Fourth of July a much more expensive time to travel by car.
But as Israel and Iran reached a ceasefire, reducing the risk of a
disastrous disruption in the flow of oil out of the Strait of Hormuz.
US crude oil settled at $65.11 a barrel on Monday – down sharply from
an intraday peak of $79 on June 22.
“The pendulum swung very rapidly,” said Patrick De Haan,
GasBuddy’s head of petroleum analysis.
That’s very good news for the many Americans set to travel this
holiday weekend.
According to AAA, a are expected to travel by car this Fourth of July
weekend. That’s up by 2.2%, or 1.3 million people, compared with
last year.
Based on the current forecast, Americans are expected to spend about
$500 million less on fuel than last Fourth of July, according to
GasBuddy.
Gas looks even cheaper from an inflation-adjusted basis.
Americans are making significantly more money, on average, than they
did in 2021 or 2020. That means filling up at the pump is swallowing up
a smaller and smaller chunk of paychecks.
Consider that averaged $3.68 per gallon in June 2021 and $5.43 in June
2022, according to the US Energy Information Administration. That’s
well above today’s prices of around $3.15 to $3.20 a gallon.
Drivers in some US states are enjoying significantly cheaper gas prices
compared with last year, including Ohio (56 cents cheaper), Florida (43
cents), Kentucky (42 cents) and Michigan (42 cents), .
As always, there’s a risk that gas prices could start climbing again
if something else goes wrong in the Middle East, US refineries suffer
outages or hurricanes season interrupts energy supplies.
But short of that, analysts say the outlook remains favorable to
drivers this summer when it comes to gas prices.
Not only have Israel-Iran fears eased, but OPEC continues to
aggressively add more supply, and US oil production remains near record
highs.
That’s why GasBuddy says it’s possible gas prices will slip below
$3 per gallon nationally by Labor Day weekend.
“There’s limited ability for gas prices to rise above last
summer’s levels. All in all, it’s not a bad time to hit the
road,” De Haan said.
<- back to index
You are viewing proxied material from codevoid.de. The copyright of proxied material belongs to its original authors. Any comments or complaints in relation to proxied material should be directed to the original authors of the content concerned. Please see the disclaimer for more details.