Gas prices drop ahead of Fourth of July

SALT LAKE CITY – At $3.97 a gallon, Utah average gas prices are higher than the national average.  But if you’re taking to the roads this holiday weekend, things could ease up on your pocketbook. According to Triple A the national average for a gallon of gas fell to $3.55, just in time for Fourth of July travel.

Typically, fuel prices rise during the holiday. This year, however, the national average for a gallon of gas took a dramatic plunge. CNN business reports gas is $1.30 lower this Fourth of July weekend than it was last year.

Triple-A has called the drop in gas prices “unprecedented”

According to CNN, oil prices dipped this week over concerns the Federal Reserve will continue to raise interest rates to slow the economy. That led to the drop in the national average at the pump. 

While national costs are much cheaper this holiday at $3.55 a gallon on average, prices are still higher than in 2020 and 2021 when much of the country was shut down due to COVID-19.

 

Related reading: 

• Utah gas prices rising, among most expensive in the country
• Why are Utah gas prices higher than Wyoming and Colorado?