US Gas Prices Dip After Record Independence Day Travel
Gasoline prices across the United States declined following the Fourth of July holiday, while Indiana Governor Mike Braun extended the state's gas tax suspension.
National gasoline prices trended downward following the Independence Day holiday travel weekend, during which an estimated 72.2 million Americans traveled at least 50 miles. While prices were projected to reach $3.75 per gallon on the holiday, the national average as of July 3 stood at $3.85. Following the weekend, reports on the national average varied, with one indicating a drop to $3.80 per gallon and another citing a four-month low of $3.97.
Regional pricing showed significant disparity. New York saw a slight decrease from $4.07 to $4.06 per gallon, and Michigan prices fell 14 cents over a week to $3.96. Mike Braun, the Governor of Indiana, extended the state's gas tax suspension through early August to provide relief to drivers. Indiana maintained the lowest prices in the country, with averages dropping from $3.09 on July 3 to $3.04 by July 6.
