Overview

• National average for a gallon of regular gasoline stands at about $3.15, roughly 32 cents below last year’s price and the cheapest since 2021.
• AAA projects a record 72.2 million Americans will travel at least 50 miles over the July 4 holiday weekend, with 61.6 million making the trip by car.
• Regional disparities persist as Chicago drivers pay around $3.65 per gallon and California averages about $4.30 due to higher taxes and special fuel requirements.
• Crude oil prices have eased on forecasts of a global economic slowdown and the winding down of Middle East tensions, contributing to lower pump costs.
• Analysts caution that an above-normal hurricane season, upcoming refinery maintenance and potential geopolitical flare-ups could push prices higher later this summer.