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You are here: Home / News / Gas Prices Decline Even with Increase in Demand Over July 4 Holiday

Gas Prices Decline Even with Increase in Demand Over July 4 Holiday

July 11, 2022 By CollisionWeek Editor

AAA reports that pump prices continued to decline, falling another 12 cents since last week to $4.67. The dip in the national average for a gallon of gas occurred despite a slight rise in demand, likely due to robust July 4th holiday automobile travel. AAA forecasted that 42 million people would hit the roads for the holiday weekend, a new record.

“Usually, more people buying gas would lead to higher pump prices,” said Andrew Gross, AAA spokesperson. “But the price for oil, the main ingredient in gasoline, has fallen and is hovering around $100 a barrel. Less expensive oil usually

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Filed Under: News Tagged With: AAA, Gas Prices, Gasoline Demand

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