Gas Prices on July 4: Will They Be Cheaper This Year?

Gas Prices on July 4: Will They Be Cheaper This Year?

For drivers hitting the road for the long 4th of July weekend, we’ve put together a guide to gas prices to help you prepare for what you might encounter at the pump. While prices have risen just over a year ago, The Environmental Information Administration (EIA) reported that it down $0.19 from their year-to-date high on April 22. When the EIA released its holiday fuel report earlier this week, gas prices were an average of five cents lower than a year earlier. However, according to AAA, you’ll likely pay a little more than last year, but not by much, since prices aren’t rising more than 1 percent nationwide across all classes.

Normal Middle class Premium
Current price $3.51 €3.97 €3.97
Prices a year ago $3.54 €3.96 €4.29
Change (%) 0.62% 0.18% 0.56%

As seen above, the biggest increase is for premium gasoline, likely due to the extra refining that petroleum undergoes to achieve that standard. Since the pandemic, refining capacity has decreasedand that has sent prices soaring. In California, lawmakers have passed a bill to discourage refiners from artificially reducing capacity to raise prices.

Gas Buddy, the online tool and blog that tracks US gasoline prices, estimates that prices will drop to an average of $3.49 this weekend. If prices fall to the forecast level, they will represent the lowest level since 2021 for the July 4 period.

Where can I get the cheapest gasoline?

Wondering where to fill up? Gas Buddy is a free way to find the lowest priced gas stations in your area. Often the difference can be a few cents, but as you fill up, it adds up over time.

In which states are gas prices the lowest leading up to July 4?

AAA has tracked the lowest gas prices leading up to the long weekend in:

  • Mississippi: $2.98
  • Louisiana: $3.05
  • Arkansas: $3.07
  • Texan: $3.10
  • Kansas: $3.11
  • Oklahoma: $3.12
  • Missouri: $3.13
  • Alabama: $3.14
  • Tennessee: $3.16
  • South Dakota: $3.25

Source: AAA

At the more expensive end of the spectrum, the highest prices were recorded in:

  • California: $4.79
  • Hawaii: $4.70
  • Washington: $4.30
  • Nevada: $4.05
  • Oregon: $4.04
  • Alaska: $3.88
  • Illinois: $3.83
  • District of Columbia: $3.69
  • Pennsylvania: $3.66
  • Michigan: $3.62

Source: AAA

Prices within the country are related to differences in oil production and refining capacity, the cost of transporting gasoline, and the regulations that determine fuel standards in a particular jurisdiction.