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Drivers this Independence Day weekend might feel a little bit more patriotic when they head to the gas station; The national average price of gasoline on July 4 is expected to be $3.49 per gallon, the lowest holiday price since 2021, according to GasBuddy, the leading fuel savings platform saving North American drivers the most money on gas. The projected national average price of gas on July 4 would be just a penny lower than it was a year ago ($3.50) and would be over $1.30 below what motorists paid over the holiday in 2022, when the economy became superheated, and Russia’s invasion of Ukraine pushed oil to triple- digits.
While gasoline prices have bounced back slightly after falling as low as $3.39 per gallon in early June, some states are still seeing significantly cheaper July 4 gas prices than last year. The top 10 largest changes from a year ago are all declines, led by average gas prices now being 71 cents per gallon lower in Washington than a year ago. Other states seeing gas price declines include Oregon (-60c), Utah (- 44c), Colorado (- 42c), Alaska (-42c), Wyoming (-41c), Idaho (-37c), Arizona (-31c), Montana (-28c) and South Dakota (-27c). Though some have seen prices jump compared to a year ago: Ohio (+23c), Indiana (+22c), Michigan (+14c), Georgia (+14c) and Delaware (+10c).
“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 head out on the road over Independence Day weekend. To save money on gas, drivers should shop around for the best prices, especially when crossing state lines, using a tool like the GasBuddy app. Road trippers can also sign up for the free Pay with GasBuddy card to save up to 25 cents per gallon on every fill up.
