Drivers filling up their cars on the Fourth of July will encounter the "lowest holiday price" for a gallon of gas in three years, according to a Tuesday projection from GasBuddy.
Across the country, they will have to pay $3.49 on average for a gallon of gas on the Fourth of July, which falls on Thursday this year, the company forecasted.
"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," GasBuddy Head of Petroleum Analysis Patrick De Haan said.
This year’s Fourth of July forecast would represent a one-cent price drop from 2023 and an over $1.30 decline compared to the year before that, per GasBuddy.
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As of late Wednesday afternoon, a regular gallon of gas averaged around $3.507 nationwide, according to the company.
"While the first half of the summer has been relatively smooth sailing, the road ahead may be bumpy," De Haan also said Tuesday. "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."
The Atlantic hurricane season kicked off June 1, with its first hurricane, Beryl, currently moving through the Caribbean, according to the National Hurricane Center.
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While this year’s Fourth of July gas prices may not be expected to be as painful as the last couple of years, that isn’t slated to be the case for Thursday’s barbecues.
The American Farm Bureau said late last month a 10-person Fourth of July cookout will carry a $77.22 price tag this year. That figure, which equates to $7.12 per person, will mark a 5% year-over-year increase.
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Of the 12 popular cookout food items the American Farm Bureau looked at, only two — chicken and homemade potato salad — will be cheaper compared to last year, according to its analysis.
