Holiday weekend with low gas prices

Jul 01, 2017, 00:39
Holiday weekend with low gas prices

The average price for a gallon of regular in the Bradenton-Sarasota-Venice market was $2.109 on Friday, down from $2.122 the previous day and $2.186 a week ago. This compares with the national average that has fallen 2.6 cents per gallon in the last week to $2.25/gallon. The release states the 10-year average is $3.14 per gallon.

Fridays of Independence Day weekend are the biggest day for buying gas, with spending up 27 percent from the daily average in July, according to Bank of America. Crude oil prices have been below $50 per barrel since April, and the US oil rig count is at 758 - a three-year high. That's 1.25 million more people than previous year.

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SC has the lowest gas prices now.

An estimated 44.2 million Americans will travel 50 miles or more from home between Friday and Tuesday, according to AAA. "Instead of seeing fireworks at the pumps like we saw just a few short years ago, this is like Christmas in July".

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- Drivers will find the cheapest gasoline prices for the 4th of July holiday weekend since 2005, thanks to a rare summer break at the pump. This means there is a higher chance motorists will overpay at the pump over the holiday weekend. But thats 3.4 cents less than last weeks average in the Central Coast city, the AAA says.

"Combined, strong employment, rising incomes and higher consumer confidence bode well for the travel industry, in particular this Independence Day weekend", said Bill Sutherland, senior vice president for travel and publishing in the national AAA office.

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That's more than meeting the demand at a time when, typically, gas prices are expected to rise. The average national gas price Thursday was $2.24, five cents lower than it was at the same time previous year. Vehicle rental prices, meanwhile, have decreased 14 percent, averaging $65 per day.

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