
CHARLESTON COUNTY, S.C. (WCIV) — GasBuddy has predicted that this year's Fourth of July will have the highest gas prices in the holiday's history.
Over the past week, gas prices have consistently — yet very slightly — declined. Averages just over $5 per gallon have dropped to $4.94 as of Thursday, June 23.
That decline is expected to continue, and prices are could drop 10-20 cents come Independence Day, according to GasBuddy.
This still sets prices astronomically high for the second-most traveled day of the summer.
“It’s been a scorching summer at the pump with record prices set in every state. While we may see brief relief here and there, the high prices don’t seem to be holding many Americans back from hitting the road with the economy fully reopen,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While we may see relief as we approach July 4, and potentially after, the volatility in markets remains high. We still could see a super spike in gas prices later this summer, should a hurricane threaten Gulf Coast oil refineries or oil platforms. Motorists should know that while we may see small relief today, risks remain that prices could go up at a moment's notice and set new records again.”
70% of drivers told GasBuddy their summer road trip plans have changed due to gas prices. However, of the 58% of Americans planning to take a road trip over the summer, 33% will travel specifically on Independence Day weekend.