Gas prices are lower than they have been in 12 years

There is good news for the 44 million drivers who are expected to be on the highway during the Fourth of July holiday. gas prices are lower than they have been in 12 years. It was back in 2005 when prices were as low as they are now. Of course, the price still depends on where you purchase gas, according to a GasBuddy report on Tuesday, June 27.

In some places, prices are less than $2.

People with the GasBuddy app can check how much gas costs in their locality. The app shows gasoline prices in the United States, Canada, and Australia.

Average cost of gas

Most American consumers will pay about $2.21 per gallon at the pump. That is far less than what it was ten years ago at $3.14. In the last few weeks, prices have dropped at least 15 cents, says GasBuddy senior petroleum analyst Patrick DeHaan.

Even though the cost of gas has not affected the decision of 64 percent of people to drive over the holiday, it certainly helps defray the cost of traveling. Seventeen percent of people said they decided to take a road trip because of the low prices.

Whatever the reason for driving, road trips are expected to be up at least 9 percent higher than last year when gas prices were at least 55 cents more per gallon.

More statistics

Analysts say that gas prices are lower for the Fourth of July than they were on New Year's Day for the first time in 17 years, and it has been 12 years since prices have been down from July 2005 to July 2017. That comparison was made because the price is usually about 47 cents higher on July 4 than it is on January 1 because of the lower demand in the wintertime and the higher demand in the summer. However this year, there is a switch.

Prices are expected to remain low for a while. This is because of an unexpected drop in the cost of crude oil.

Finding low prices

There is no need to waste gas and time riding around town looking for lower prices. Go to GasBuddy.com on your computer or install the app. You will be able to see the location where the lowest prices are in your area. Then you can compare prices and choose the one that is closest to you or one in your line of travel.

It has been a long time since drivers have seen anything lower than $2 at the pump, and it is a beautiful sight to see. As of now, a map around the country shows prices ranging from $1.90 in South Carolina to $2.95 in California and $3.05 in Hawaii. These prices change daily, and you can always check what they are on a daily basis at GasBuddy.