Low gas prices expected for 4th of July weekend

EL PASO, Texas - The 4th of July is right around the corner and travelers will be greeted with low gas prices. NBC News reports that nationally drivers will be paying the lowest prices in 12 years.

In fact it will be the first time on record gas prices will be cheaper on the 4th of July than on New Years Day.

Right now in El Paso the average for a gallon of regular gas is $2.05. That's $0.14 less than last month, $0.11 less than a year ago and $0.18 less than the national average of $2.23, according to AAA. That's the lowest average this time of year since 2005.

According to Gasbuddy.com, the cheapest day on average to buy gas is Monday. The most expensive will be Thursday.

NBC News reports what is fueling the drop is a surplus of crude oil.

Analysts say they expect to see prices hike later in the Summer during the height of hurricane season. 


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