Unprecedented plunge in Fourth of July gas prices

Lower gas prices are everywhere for the big travel weekend for the 4th of July. This is good news for Americans and good news for the Biden administration as this time of year is typically peak gas pricing for the year. Even lower prices are in the future. Bidenomics taking root. : )

Fourth of July gas prices take an almost unprecedented plunge | CNN Business

And yet gasoline prices are much lower. The national average for regular gasoline dipped to $3.55 a gallon on Thursday, according to AAA. A year ago, a gallon of regular sold for an average of $4.87 a gallon. That kind of price drop is almost unprecedented.

During the week ending June 26, the average gas price was $3.57 a gallon, according to the US Energy Information Administration. That’s down by $1.30, or 27%, from the same period last year.

This is the second-biggest one-year price drop in the week before the Fourth of July since EIA data began 33 years ago, according to John LaForge, who leads real asset strategy for the Wells Fargo Investment Institute. The only bigger 12-month drop occurred during a historic downturn: the Great Recession. Gas prices plunged by $1.45 a gallon, or 35%, between June 30, 2008 and June 29, 2009.

 

What was unemployment?

 

Prices here in Charlotte are higher than they have been at $3.20. South Carolina is hanging around $2.90. Passed through Tenn a few days ago and paid $2.75 and got some great jerky from Buccees.

 

Try googling whether I have it.