Gas prices take surprising dip as July 4 holiday nears

Gas prices in the Bradenton-Sarasota area have fallen 6.2 cents per gallon in the past week, averaging $2.14 a gallon to start the last week in June, according to GasBuddy’s daily survey of 308 area gas outlets. Nationally, prices have fallen 2.6 cents per gallon in the last week to $2.25 a gallon, according to gasoline price website GasBuddy.com.

“As motorists pack their cars in preparation for the July 4 holiday, gasoline prices continue their widespread drop, as retail prices play catch up to the falling price of crude oil,” said Patrick DeHaan, senior petroleum analyst at GasBuddy. “It’s amazing we’re staring at some of the cheapest prices of the year as the holiday comes into view.”

Including the change in gas prices locally during the past week, prices Monday are 5.9 cents per gallon lower than the same day one year ago and are 11.6 cents per gallon lower than a month ago. The national average has decreased 11.5 cents per gallon during the last month and stands 5.7 cents per gallon lower than this day one year ago.

Statewide, prices average $2.19 a gallon, down 5.6 cents per gallon from last week’s $2.25 a gallon. Florida ranks 22nd among states with the lowest daily average price for gasoline, according to AAA.

“Lower gas prices will make it more enticing for Americans to take extended, or more frequent road trips this summer,” said Mark Jenkins, spokesman, AAA - The Auto Club Group. “And when travelers spend less at the pump, they are left with extra cash to spend on lodging, shopping and dining out.”

This story was originally published June 26, 2017 at 9:30 AM with the headline "Gas prices take surprising dip as July 4 holiday nears."