Bad News For Your Fourth of July Weekend: Gasoline Prices Hit Six-Year Holiday High
Expect to pay more at the pump this summer.
Conflicts in Iraq have caused gas to go up substantially.
According to AAA, 41 million people are expected to hit the road during this Fourth of July weekend, and experts say get ready to pay more at the pump.
“Nationally, the average today is $3.68 a gallon,” said Ragina Cooper-Averella, of AAA. “That’s up two cents from a week ago nationally.” The rising price of gas is a direct reflection of conflict in Iraq. Analysts are now focused on the militant uprising in the country, where America gets a large percentage of its oil supply.
In Michigan, gas prices are averaging around $3.88 per gallon, which is a full 40 cents a gallon higher than the July 4th holiday a year ago. It is also Michigan's highest gas price in the last six summers.
This summer it’s expected that most drivers will pay some of the highest prices at the pump since 2008, when the national average of gas rose to $4.10 a gallon. “They closed at $107.26 a barrel on Friday, which is really high,” Averella noted. “And unfortunately, if the conflict continues, we’ll continue to see crude oil prices rise as well as gas prices.”
If you want to plan your gas costs for your summer trip, you can use this gas price calculator, courtesy of Triple A.