NORTHWEST INDIANA - Gas prices during this year's 4th of July holiday weekend are significantly higher than last year's, which was at a low, according to Triple A.
AAA Auto Club Group spokesperson Molly Hart says at $3.09, the national gas price average is at its highest of the year and not stopping.
That average will increase, possibly as much as another nickel, in the lead up to the Independence Day holiday weekend as AAA forecasts a record-breaking 43.6 million Americans will hit the road for a holiday getaway. This year’s Independence Day weekend is defined as Thursday, July 1 – Monday, July 5.
While it is typical to see gas prices increase ahead of a holiday, especially during the peak summer driving season, pump price increases as of late have been noticeable.
Hart says today, 89% of U.S. gas stations are selling regular unleaded for $2.75 or more. And that is a stark increase over last July 4 when only a quarter of stations were selling gas for more than $2.25. Hart says Road trippers will pay the most to fill up for the holiday since 2014.
Crude oil, and in turn gas prices, are more expensive compared to years past mostly due to three major factors: confidence in worldwide vaccination rollout, global oil demand spikes, and the easing of travel restrictions leading to optimism for leisure travel.