Even with gas prices climbing this year, drivers will pay the lowest prices at the pump over the Fourth of July holiday weekend than they have in five years. Average pump prices are 90 cents per gallon less than prices at this time last year, according to a report by AAA.
The national average at the pump hit $2.77 on June 29, down three cents from when it hit its 2015 peak on June 15.
It’s common for gas prices to be lower leading up to the Fourth of July, but this year that dip has been offset due to supply shortages caused by refinery issues and rising global crude prices, AAA reported.
Alaska has surpassed California as the state with the most expensive average gas price at $3.47. California, which previously held the highest average gas price for 16 consecutive weeks, is now two cents lower than Alaska at $3.45 per gallon. South Carolina continues to boast the lowest averages at the pump at $2.45.