Highest July 4 Gas Prices in 6 Years

NEW YORK – Get ready to pay more at the pump this holiday weekend.

The average price for a gallon of unleaded gasoline is now $3.67, according to the Automobile Club of America (AAA). That’s the highest price on the Fourth of July holiday since 2008, when prices topped $4 a gallon.

Compared to last year, gas prices are up about 20 cents a gallon.

Fears of a civil war in Iraq and its effect on the country’s oil production have pushed up crude oil prices since mid-June.

The first storm of the U.S. hurricane season, Arthur, is already underway in the North Carolina region, and investors will be watching the weather closely as we head into the middle of summer with fears that tropical storms could disrupt production at Gulf Coast refineries.

While gasoline prices are up, so is the number of road-trippers expected to hit the highways this weekend — 41 million Americans will journey 50 miles or more from home during the Independence Day holiday period according to AAA, a near 2% rise from last year.

But there’s good news down the road.

“Between now and mid-July you’ll probably see prices drift down,” said Tom Kloza, chief oil analyst at GasBuddy.com. Kloza thinks oil prices will continue to back-off recent highs especially since it looks like Libyan oil is coming back to the markets following a deal between the government and rebels to reopen some export terminals that had been closed.

6 comments

  • William Denison

    I thought Iowa ethanol was going to save us from high gas prices and end wars in the middle east? So now we are paying more for gas and our food and our kids are still be murdered over there.. Thanks Gov.Braindead . Your the best!!

    • BrutallyHonest

      No you are mistaken. Ethanol is being pushed so that farmers can make more money off the corn they grow, thus also raising our food prices. Not to mention that your car gets worse gas mileage when using ethanol, so really even though ethanol is cheaper..you stil dont really save money because you are using more of it than you would regular gas. Also, what does Brandstad have to do with the war in Iraq? Last i checked, the President of the USA (previous and current) are the ones that are keeping our troops over seas.

      • William Denison

        No, your mistaken. Braindead is in charge of our National Guard who’s been shipped by the plane loads over there for the wars he backs and his party started. His hands are just as covered with blood as Bush and Cheneys are.

      • gimmieabreak

        You both make good points.
        What crony politicians aren’t telling you is that many are personally involved in ethanol via ag land investments, etc and don’t give a rip re rising food costs, environmental damage, etc.
        Many politicians hide their ownership to mask chauvinism via their spouses name et ux, et al.
        (retired senator McKinley for example)
        Another reason why ag-anything is heavily gov-welfare-subsidized resulting in rapidly rising land values.
        once landowner thousandaires suddenly became millionaires practically overnight.
        Personally my ag-net-worth has skyrocketed and I’m still complaining, why? Ethical reasons.

  • gimmieabreak

    In case you missed it, last week the nonpartisan Congressional Budget Office released a damning report on ethanol mandates right in the middle of summer driving season.

    Researchers found that if Washington doesn’t take action to lower ethanol mandates, you can expect to pay 26¢ more for gas in the next three years.

    The report confirms that not only will you fuel up more because ethanol contains 33% less energy than regular gasoline, you’ll have to pay more each time you do.

    This 4th of July, join thousands across the country in declaring independence from ethanol mandates — sign the petition today!

    Then, click here to send an email to 5 friends who need to know about the damaging effects of ethanol mandates.

    Together, we can stop this wasteful, government boondoggle.

    Thanks,
    The Smarter Fuel Future Team

    P.S. — Don’t forget to sign the petition to end ethanol mandates! Click here to add your name!

  • Trevor

    I will add my name to the Petition. Our government is destroying us. They do absolutely nothing good for us. We send billions of dollars overseas to help their economy and to rebuild and screw us. It needs to stop now. If it continues will will have another Civil war right here in the United States.

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