July 4th gas prices expected be at 11-year low

National average for gas is $2.28/gallon
Posted at 6:53 AM, Jul 01, 2016
and last updated 2016-07-01 11:53:07-04

Are you going on a road trip this weekend? Good news: AAA expects gas prices to be at their lowest levels in 11 years, the agency said this week. 

AAA officials also said they are expecting record breaking travel numbers this holiday weekend: up to 43 million. That would be the highest total for the Fourth of July holiday ever, if the estimate holds.

Although prices sometimes surge during the July 4 travel season, gas prices are holding steady. The average price of gas in our region of the state is $2.39/gallon for regular unleaded. This morning, the cheapest price we've found in our area is $2.30/gallon. According to AAA, the national average for gas right now is $2.28/gallon.

Here in Wisconsin, we're slightly above that at $2.37/gallon, but that price is down from $2.41/gallon a week ago and $2.75/gallon a year ago. 

Gas prices have not been at or below this level on the July 4 weekend since 2005. 

The average gallon of regular unleaded gas last year was 50 cents higher than this year. Gas prices are more than $1 for per gallon lower than the same time two years ago. 

While oil prices have been expected to rise, Great Britain's exit from the European Union has given some experts reason to believe demand for gas might not be as high in coming years as expected. Lower international demand could mean lower gas prices for Americans, as supply continues to meet demand around the world. 

If you are traveling to the South, you should expect to see the lowest prices in the nation. Prices remain higher than $2.50 a gallon for much of the West.