The roads will be crowded this Fourth of July weekend, but many travelers have at least one thing going for them: much cheaper gas prices than last year.
That kind of price drop is almost unprecedented.
The only bigger 12-month drop occurred during a historic downturn: the Great Recession. Gas prices plunged by $1.45 a gallon, or 35%, between June 30, 2008 and June 29, 2009. The smallest 12-month decline in gas prices was in the state of Washington, where the average is only down by 50 cents a gallon. Washington recently replaced California with the unwanted distinction of having America's most expensive gas prices.
High inflation elsewhere is a central reason De Haan anticipates gasoline demand over the Fourth of July weekend will be 5% to 10% below 2019 levels. That's despite the fact that AAA expects the number of people driving to their destinations this weekend will be 4% higher than in 2019.The tumble in gas prices is an undeniable positive for consumers. However, not all the factors behind the drop are encouraging.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fourth of July 2023: Where to attend July 4 parades in N.J.Check out this list of Fourth of July parades planned throughout New Jersey in 2023.
Read more »
July 4th 2023: Where to see Fourth of July parades in N.J. (June 30, 2023)Check out this list of Fourth of July parades planned throughout New Jersey in 2023.
Read more »
'High tick population' forces delay of Pleasure Beach opening in BridgeportThe scheduled Fourth of July opening has been postponed to July 8.
Read more »
Fourth of July travel: What to expect from airports and roads over the holiday weekendNBC 5’s Ben Russell and Larry Collins tell us what to expect if you’re traveling by plane or car to celebrate Independence Day weekend.
Read more »
Illinois Traffic: NASCAR, Fourth of July travelers pack roads across Chicago areaTraffic was heavy on the outbound Kennedy Friday morning, as a record number of people are expected to hit the road for the Fourth of July.
Read more »