Gasoline Prices Hit a Pre-July 4th Dip

AAA predicts lower gas prices will cause increase in travelers for holiday weekend

You're in luck. Gas prices are at a historic low.

"In the 17 years GasBuddy's been in existence, we've never seen independence day gas prices, on average, lower than they are in the same year new year's day", McTeague says.

Gas prices are down 4 cents from last years Independence Day weekend with a national average of $2.28 per gallon.

Predictions show that 42.4 million people will travel at least 50 miles away from home, which is a 2.9 percent increase from a year ago. Palm Beach County's $2.27 average price on Monday was also 3 cents less than a week earlier.




Market analysts agree that slumping global oil prices, which are the biggest factor in American gasoline prices, are keeping prices historically low. Motorists in Miami-Dade County were paying an average $2.25, a 3-cent drop compared to the previous Monday.

Statewide, the average is even less, at $2.15 a gallon. The state was averaging $2.27 per gallon a year ago at this time. But there are reasons prices might not go much lower, however.

"While it has been over a month since the national average last saw a weekly rise, it is looking more likely we will soon face just that", he advised. "It is just a matter of time before the national average bottoms out for the short-term". "While holiday gasoline demand is likely to reach new highs, it will probably not be enough to cause a significant increase on the price of gasoline in the coming week".

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