Good news for July 4 travelers: Gas prices are lowest since '05
Maine motorists taking to the road for the July 4 holiday weekend will be benefitting from the lowest Independence Day gas prices since 2005.
GasBuddy projected a nationwide average of $2.21 per gallon, which is well under the 10-year average of $3.14 for the long holiday weekend.
For the first time in GasBuddy’s 17-year history of tracking fuel prices, the national average gas price is poised to be lower on July 4 than it was on New Year’s Day by 12 cents. Over the last decade, the national average has been as much as $1.04 per gallon higher on July 4 than New Year’s Day while the average year sees prices 47 cents higher on the holiday, GasBuddy reported.
In Maine, GasBuddy reported today’s average gas price of $2.23/gallon is down 2.9 cents from last week’s average of $2.25 and 12.5 cents from last month’s average of $2.35. Today’s average price in Maine is down 11.8 cents from last year’s average of $2.34.
“It’s thrilling to see gas prices falling just in time for the most-traveled summer holiday. Perhaps we can finally get rid of the myth that gas prices go up for the holiday,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “Most importantly, motorists are getting a well-deserved break at the pump after years of high summer gas prices. This is like Christmas in July, instead of seeing fireworks at the pumps like we saw just a few short years ago.”
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