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After Fourth of July Demand, Gas Prices Rise Again

After Fourth of July Demand, Gas Prices Rise Again

After gasoline dropped to the lowest it's been on July 4 in a dozen years, motorists in several states are seeing prices start to rise.

The national average for regular gas was $2.24 on Thursday, the AAA Daily Fuel Gauge Report said. That is unchanged from a week ago but up a penny since Tuesday, when it was the lowest price on Independence Day since 2005 and lowest so far this calendar year, as well.

Here's what's happening at pumps around the country this week:

  • South Carolina once again had the lowest average for regular at $1.92, followed by Alabama at $1.96 and Mississippi at $1.98. Missouri and Arkansas were within a penny of dropping below $2.

  • Hawaii had the highest price for regular, $3.06, followed by California at $2.93; Washington at $2.81; and Alaska at $2.80.

  • Prices rose or fell by a penny or two in most states, but in Indiana, regular jumped 8 cents to $2.21 and in Oklahoma by 4 cents to $2.

The average price for regular is 13 cents lower than a month ago and 2 cents lower than a year ago. At $2.79, premium gas is 11 cents lower than a month ago and 2 cents more than a year ago. Diesel fuel, at $2.44, has dropped 7 cents in the past month but is 7 cents higher than last year.

AAA said higher demand over the long holiday weekend would cause a small increase in pump prices. Refineries had been producing more gasoline than the market has needed in recent weeks, leading to a steady decline in prices.

 
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