Independence Day Travel Sparks Movement in Gas Prices

Saturday, 06 July 2024 16:18

Independence Day Travel Sparks Movement in Gas Prices Featured

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The Week

The national average remained relatively steady this week despite increased demand as nearly 61 million are taking to the roads for the July 4th holiday. Today’s national average is $3.51 per gallon, up a penny in the last week, up a penny in the past month and a penny less than a year ago.

In Oklahoma, the gas average is $3.12 today, up 4 cents in the last week and 7 cents less expensive than one year ago.

CURRENT AND PAST GAS PRICE AVERAGES

Regular Unleaded Gasoline (*indicates record high)

 

7/5/24

Week Ago

Year Ago

National

$3.51

$3.50

$3.52

Oklahoma

$3.12

$3.08

$3.19

Oklahoma City

$3.17

$3.06

$3.19

Tulsa

$3.07

$3.15

$3.14

Lawton

$3.07

$2.95

$3.04

Crude Oil

$83.16 per barrel (7/5/24)

$81.54 per barrel (6/28/24)

$71.78 per barrel (7/5/23)

At the close of Friday’s formal trading session, WTI rose for a fourth straight weekly gain to $83.16, up 2% on the week. A drop in U.S. supplies and increased demand, likely due to the July 4th holiday, are the likely drivers for the commodity.

The Weekend

“Nearly 61 million Americans have taken to the roads for the July 4th holiday, whether for a week-long vacation or a long weekend” said Rylie Fletcher, spokesperson for AAA Oklahoma. “Increased demand is the likely culprit for increases in prices at the pump, as the summer driving season is in full swing this week.”

AAA has a variety of resources to help motorists save on fuel:

Next Weekend Gas Watch: Friday, July 12, 2024

 

About AAA:
AAA provides automotive, travel, and insurance services to more than 64 million members nationwide and more than 400,000 members in Oklahoma.  AAA advocates for the safety and mobility of its members and has been committed to outstanding road service for more than 100 years.  AAA is a non-stock, membership corporation working on behalf of motorists, who can map a route, find local gas prices and electric vehicle charging stations, discover discounts, book a hotel, and track their roadside assistance service with the AAA Mobile app (AAA.com/mobile) for iPhone, iPad and Android.  For more information on joining or renewing a Membership, visit www.AAA.com.
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