WASHINGTON, D.C. – Drivers are continuing to see relief at the pump as the national average gas price declines for the fifth consecutive week, according to AAA. Today’s national average is $3.91 per gallon. Crude oil prices have also continued to fall as the U.S. and Iran work toward a long-term deal. Despite lower prices, demand could rise as a record number of Americans prepare to travel for Independence Day weekend, with 85% of travelers planning to drive to their destinations.
The national average cost of electricity at public EV charging stations held steady this week at 41 cents per kilowatt hour.
AAA projects 72.2 million Americans will travel at least 50 miles from home for Independence Day between Saturday, June 27 and Sunday, July 5. This year’s domestic travel forecast surpasses last year’s record of 71.8 million travelers, but the increase is smaller than recent year-over-year gains. The number of travelers driving and flying to their destinations is relatively flat compared to last year, while travel by other modes, including cruises, is the category seeing the biggest increase.
“For many Americans, traveling the week of July 4th is tradition,” said Stacey Barber, Vice President of AAA Travel. “The 9-day travel forecast includes travelers who are vacationing all week and people just getting away for the long holiday weekend. While the overall number of Independence Day travelers appears to be plateauing, we’re still expecting record volumes this year.”
