By JAMIE JOSEPH | Fox Business
The White House boasted a one-cent decrease in the nation’s year-over-year gas prices on Thursday, the “lowest holiday price” since the previous Fourth of July.
“‘July 4th gas prices expected to hit lowest level in 3 years,'” White House spokesperson Andrew Bates said in a post on X.
The projection comes from a GasBuddy estimate this week which claimed the $3.49 average cost for gas this Independence Day represents over a $1.30 decline compared to 2022.
“For those hitting the road to celebrate Independence Day, gas prices have seen modest recent fluctuations, but most states are seeing prices near or even well below where they were a year ago,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in a news release. “While the first half of the summer has been relatively smooth sailing, the road ahead may be bumpy. Activity in the tropics has increased, and projections remain for a very busy hurricane season. Even after the holiday fireworks are over, we’ll be watching for any potential fireworks at the pump that could be brought on by hurricanes disrupting refineries.”