In our First Tidbit Of The Day, gas prices are projected to be lower on the Fourth of July than they were on New Year’s Day! That’s the first time consumer data tool GasBuddy has made such a projection in its 17 years (the projected price is also the lowest Independence Day price since 2005), and it’s thanks to the unexpected decline in the price of crude oil this year. Per GasBuddy, the nationwide average on July 4 is projected to be $2.21 per gallon, or 12 cents lower than the price on Jan. 1. Typically, gas would cost 47 cents more per gallon on July 4 than the prior Jan. 1, as more people use the fuel for summer travel. The 10-year average for July 4 gas prices is $3.14. Considering gas prices were once predicted to come close to $3 this summer, one analyst calls this “quite the dramatic turnaround.”
Do the lower gas prices mean you might be doing more traveling over the holiday weekend?