Gas prices set to fall 10-20 cents by July 4: GasBuddy

RLAEIGH, NC (WNCN) – Gas prices are expected to fall ahead of the July 4th holiday, according to GasBuddy, but that relief is unlikely to last.

Patrick De Haan, GasBuddy’s head of petroleum analysis, said “volatility” in the markets was still high and warned of a “super surge” in gas prices later in the summer.

“We could still see a super surge in gas prices later this summer should a hurricane threaten oil refineries or Gulf Coast oil rigs,” De Haan said. “Drivers should know that while we may see some relief today, risks remain that prices could rise and set new records again in the short term.”

A Survey by GasBuddy shows high gas prices aren’t stopping Americans from traveling this summer.

Of the 58 percent of Americans planning a road trip this summer, 33 percent were on the road over the 4th of July weekend.

On Wednesday, President Joe Biden urged Congress suspend state gasoline and diesel taxes for three months.

If the savings from the federal gasoline tax of 18.4 cents per gallon were passed on in full to consumers, drivers would save about $2.76 on a 15-gallon tank of fuel, according to the Associated Press.

The average price for an unleaded gallon in Raleigh on Wednesday is $4.61 — below the national average of $4.95, GasBuddy reports.

Prices are down slightly since peaking on June 11th.

https://www.cbs17.com/news/gas-prices-to-drop-10-to-20-cents-by-july-4-gasbuddy/ Gas prices set to fall 10-20 cents by July 4: GasBuddy

Dais Johnston

USTimeToday is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@ustimetoday.com. The content will be deleted within 24 hours.

Related Articles

Back to top button