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U.S. Drivers Expected to Pay Lowest Gas Prices for 4th of July in 12 Years

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Erik Reyna
/
KUT News/NPR

UNITED STATES - Drivers in the U.S. are expected to see the lowest average gas prices for Independence Day since 2005.  

For the first time in GasBuddy history gas prices will be lower on July 4th than New Year’s Day!  Patrick DeHaan, Senior Petroleum Analyst at GasBuddy, says motorists will be paying  an average  of  $2.21 per gallon, well under the 10 year average of $3.14, according to GasBuddy.

"We haven't seen a July for this cheap since 2005 so this is quite a record.  It goes back 12 years.  Gas prices indeed have been falling as we approach July four, in fact now the Indiana statewide average (is) $2.13 cents per gallon.  That's nine cents lower than last year, prices now about .11 cents a gallon lower than a month ago."

Although average gas prices are at historic lows, the price variance “spread” in industry parlance in gas prices  in  any  given  city on July  4th  will  be  at  historic  highs.

This  means there  is  a  higher  chance consumers will overpay at the pump over the holiday weekend.

SUV drivers can save on average $11 per fill up by stopping at the favorable end of the price spread. While smaller cars can save  $6.

The spread between the nation’s lowest and highest priced gas stations stands at $1.29 per gallon, sharply higher than the 10- year average of 98 cents per gallon for this time of year.
 

Sharon Jackson is the local host of "All Things Considered" and a reporter for Lakeshore Public Radio. She has been with 89.1 FM since its launch in 2009. Sharon is also a radio DJ in Chicago, and has been since 2004. In her previous job at Metro Networks/Westwood One, she was heard on am 890 WLS, WGN radio 720 am and am 560 WIND. She has also delivered news and traffic reports on radio stations all over Chicago and the suburbs including 95.9 The River, 98.3 WCCQ and Star 96.7.