Gas Prices Haven’t Been This Expensive in 6 Years
Getting to your town’s fireworks display will cost you a little more than it has in years past: As of yesterday, a gallon of unleaded gas clocked in at an average $3.67. That’s the highest it’s been on the July Fourth weekend since 2008. What you can curse while at the pump: the situation in Iraq. Though the Wall Street Journal notes that domestic production has ballooned lately, it sees the current prices as a “reminder that the US still depends on imported oil”; Iraq was the No. 6 importer to the US in April.
And with ISIS working its way through the country, investors and traders are warily keeping watch over Iraq’s oil production, and the possibility that our shipments could cease if the militants take Baghdad and southern oil fields. Some gas- and travel-related facts from AAA:
- California, as always, has it worst: Its average price was $4.138 yesterday.
- 34.8 million Americans are expected to drive at least 50 miles this weekend; that would be the most since 2007.
- A July jump in prices is atypical; the peak usually comes near Memorial Day.
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Photo credit: Flickr, futureatlas.com