Petrol Prices Drop Ahead of July 4
The projected decline in gas prices is a result of a combination of factors, including easing tensions in the Middle East and increased oil production from OPEC. As the national average price of gas continues to fall, drivers can expect to see lower prices at the pump, with some states seeing significant discounts.
The national average gas price has fallen 3.8 cents per gallon in the last week, averaging $3.14/g, driven by easing tensions in the Middle East and increased oil production from OPEC. Wyoming's average gas price has risen 0.8 cents per gallon in the last week, averaging $3.12/g, while Montana's average gas price rose 4.8 cents per gallon to $3.28 per gallon.
The decline in gas prices is attributed to the easing of Middle East tensions and the increase in oil production from OPEC, according to GasBuddy. The national average is expected to fall to $3.15/g on July 4, down 35 cents from last year's average, hitting its lowest July 4 level since 2021. In Wyoming, the cheapest station was priced at $2.69/g, while the most expensive was $4.90/g, a difference of $2.21/g.
Montana's gas prices have increased in 22 out of 26 weeks, with prices 8.9 cents higher than a month ago and 15.5 cents lower than a year ago. Diesel prices rose 2.7 cents to $3.68 per gallon. Wyoming's average gasoline price is 3.5 cents higher than a month ago, but 9.6 cents lower than a year ago. The national average price of gasoline is projected to continue its downward trend, with GasBuddy projecting a price of $3.15 per gallon on Independence Day.
As the summer driving season approaches, the decline in gas prices is expected to provide relief to motorists. With the national average price of gas projected to hit its lowest July 4 level since 2021, drivers can expect to save money on fuel costs. However, prices can fluctuate, and it remains to be seen whether the current trend will continue.