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Gas prices highest since 2014

If you are traveling for Independence Day, you’ll pay the highest rate for gas in seven years. To make matters worse, experts say there’s no end in sight for rising prices.

The American Automobile Association (AAA) states that “At $3.09, the national gas price average is at its highest of the year and not stopping.” In some areas of the country, fuel has doubled in cost since inauguration day.

“That average will increase, possibly as much as another nickel, in the lead up to the Independence Day holiday weekend as AAA forecasts a record-breaking 43.6 million Americans will hit the road for a holiday getaway,” the group added.

“Road trippers will pay the most to fill up for the holiday since 2014,” said Jeanette McGee, AAA spokesperson.

The last time that average gas prices saw similar levels was in October 2014, when they were at $3.171 per gallon, according to the U.S. Energy Information Administration.

According to the AAA, the national average gas price over the Independence Day holiday weekend in 2014 stood at $3.66 per gallon.

While there have been reports of some gas stations running out of gas ahead of the Independence Day holiday weekend,  what’s behind it is not a fuel supply crunch but a shortage of truck drivers to make timely deliveries, according to Patrick De Haan, head of petroleum analysis at GasBuddy.

There could also be some lines at gas pumps.

Tom Kloza, global head of energy analysis for the Oil Price Information Service, which tracks prices for AAA, told CNN that, given the trucker shortage, gas stations are having a harder time scheduling deliveries to ensure they don’t run out.

“It used to be an afterthought for station owners to schedule truck deliveries. Now it’s job No. 1,” Kloza told the outlet.

 

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