Gas prices are expected to be at their lowest point in 12 years for this year’s July 4th holiday weekend.
GasBuddy estimates that 2017 will be a great day to travel to see family and friends for America’s Independence Day–its 241st one at that. The average gas price per gallon will be $2.21 around the U.S., the publication predicts.
That price is for the weekend preceding July 4th, which falls on a Tuesday. While many will have to work the Monday prior, many will take the day off and enjoy a four-day weekend.
There’s a higher demand for gasoline, as well as a decreased demand that are partially to thank for the lower gas prices. The prices will be even lower than New Year’s Day.
OPEC attempted to raise gas prices by cutting production, but U.S. drillers countered this initiative thanks to the country’s relationship with Saudi Arabia as rigs in the Middle East were revived and a surplus of gas was gained. In other words, ‘Murricah!
Friday’s national average price was $2.26 per gallon, which is significantly lower than the April peak of $2.43 per gallon on average.
The 10-year average is $3.14 per gallon, according to the GasBuddy news release. GasBuddy has been tracking gas prices for 17 years.
The spread between the lowest and the highest prices per gallon in the nation is roughly $1.29.
