4th of July gas prices sparking at highest levels since 2008

By Jennifer Pilgrim,

It is estimated that gasoline over the 4th of July weekend will cost motorists to pay roughly $3.68 a gallon, up 17 cents from last year. Although well below the highest record of $4.11 set just after July 4th, 2008, the crude oil prices are feared to continue rising due to the political unrest in Iraq.

Tom Kloza, the senior energy analyst for Gas Buddy, expects prices to rise upwards of $3.75 in some areas. "Demand during the summer looks to be brisk, but it will be hard-pressed to match last years consumption rate."

“Although gas prices in the Southeast remained relatively stable from last week, it wouldn’t be surprising to see gas prices inch up slightly before the holiday weekend,” said Jessica Brady, AAA spokeswoman with The Auto Club Group in a report to theWall Street OTC.

Despite the higher prices, AAA Travel is projecting that over 41 million Americans will travel 50 miles or more from home during the Fourth of July holiday weekend. That is normally defined as July 2nd-6th.

South Carolina is currently the cheapest state for gas, reports USA Today. They average $3.38 a gallon, which is almost one dollar less than Hawaii, which averages $4.34.



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