Gas Prices at Highest Level Since 2014, Analysts Fear Shortages Ahead of Independence Day Weekend

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Feel like going on a road trip this Independence Day weekend? Well, it’s going to cost the most it has since 2014 when former President Barack Obama was in office.

According to the New York Post, the American Automobile Association (AAA) released data on Monday reporting that the average price of a gallon of regular unleaded gas is currently at $3.09 — “the highest price Americans have been asked to shell out ahead of the holiday weekend since 2014.”

With many areas around the U.S. seeing increased travel with Chinese coronavirus restrictions being loosened up in recent weeks, the vast majority of Americans will be paying, on average, at least 50 cents more than they did just last year, according to AAA spokeswoman Jeanette McGee.

“Today, 89 percent of US gas stations are selling regular unleaded for $2.75 or more,” McGee said. “That is a stark increase over last July 4 when only a quarter of stations were selling gas for more than $2.25.”

Granted, the Chinese coronavirus pandemic contributed to the lower prices in 2020, but that doesn’t discount that the current prices are at their highest levels in seven years.

Combine the high price of gas with new reports that the increased demand for the holiday weekend will cause shortages, and Americans will find themselves questioning whether they should take out of town trips for Independence Day.

“What I’m worried about for July is the increased demand works out to about 2,500 to 3,000 more deliveries needed every day,” Tom Kloza, global head of energy analysis for the Oil Price Information Service, told CNN. “There just aren’t the drivers to do that.”

Higher gas prices and gas shortages could mean less “independence” for travelers on Fourth of July weekend.

MRC Merch

MRC Merch