Independence Day Travel Sparks Movement in Gas Prices

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 4^th 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 4^th holiday, are the likely drivers for the commodity.

The Weekend

“Nearly 61 million Americans have taken to the roads for the July 4^th 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:

• Fuel Price Finder (http://www.AAA.com/fuelfinder) locates the lowest fuel price in your area. 
• AAA Gas Cost Calculator (http://gasprices.aaa.com/aaa-gas-cost-calculator/) helps budget travel expenses. 
• TripTik Mobile (http://www.aaa.com/mobile) plots fuel prices along your travel route. 

Next Weekend Gas Watch: Friday, July 12, 2024