White House prices gasoline at $3.49, one cent cheaper than July 4 last year

Sen. Kevin Cramer, R-N.D., analyzes President Biden’s energy campaign in ‘Kudlow.’

The White House boasted Thursday that gas prices in the country had fallen by one cent from a year earlier, the “lowest holiday price” since last Fourth of July.

“Gas prices are expected to hit a three-year low on July 4,” White House spokesman Andrew Bates said in a message on X.

The forecast is based on an estimate from GasBuddy this week, which said the average gas price this Independence Day will be $3.49, down more than $1.30 from 2022.

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A vehicle is fueled at a Chevron gas station in Houston on December 5, 2022. (Brandon Bell/Getty Images / Getty Images)

“For those hitting the road to celebrate Independence Day, gas prices have seen modest fluctuations of late, but most states are seeing prices close to or well below year-ago levels,” Patrick De Haan, chief petroleum analyst at GasBuddy, said in a news release. “While the first half of summer has been relatively smooth, the road ahead could be bumpy. Activity in the tropics has picked up and forecasts continue for a very busy hurricane season. Even after the holiday fireworks are over, we’ll be watching for potential fireworks at the pumps that could be caused by hurricanes disrupting refineries.”

GasBuddy’s forecast comes just weeks after the American Farm Bureau (AFB) announced that the average price for a 10-person barbecue on Independence Day this year would be $71.22, up 5 percent from last year and nearly 30 percent from five years ago.

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President Biden’s administration on Thursday touted a one-cent drop in the price of gasoline since July 4 last year. (Getty Images/iStock/iStock)

“Higher grocery store prices reflect some of the challenges facing American families. Lower availability of some barbecue staples and inflation are hitting people in the pocketbooks,” said Roger Cryan, AFB’s chief economist. “Farmers are also feeling the effects of high prices. They are price takers, not price makers. Their share of the retail food market is only 15 percent, but they are still paying higher prices for fuel, fertilizer and other supplies.”

The agency’s annual market research found that the cost of beef and lemonade rose by double digits compared to last year, while chicken fillets and potato salad fell slightly.

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