July 4 gas prices expected be at 11-year low

A record number of motorists are expected to hit the road on the July 4th weekend thanks to the lowest gas prices in more than a decade, according to AAA.

“We continue to encourage the public to travel, to associate, to celebrate the July 4th holiday”.

More people will travel over the upcoming Independence Day weekend than during the Memorial Day holiday, according to AAA Mid-Atlantic projections.

With the holiday weekend in sight, many people are gearing up and getting ready to hit the road. Another 8 percent, or 3.3 million, will fly, up 2.2 percent from previous year; and almost 8 percent will use another transportation mode like train, bus, or cruise. In Indiana, 1.3 million are expected to travel, a 1.3 percent increase over past year. Mark Jenkins, AAA spokesman said low gas prices mean it’s more affordable to travel.

Motorists at the low prices have affected their budget in a positive way and could also impact their travel plans. AAA anticipates that most drivers will pay the lowest Independence Day prices since 2005, with a nationwide average of around $2.39 a gallon.

A five-year study (2010-14) conducted by the Insurance Institute for Highway Safety shows that on average, more people die in motor vehicle crashes on Independence Day than any other single day of the year.

The American automobile association said in on Friday that high economic activity and consumer confidence will boost travel, despite fluctuations in job growth. That’s down 29 cents compared to a month ago and down 57 cents compared to a year ago. “That’s the highest volume of travelers that we have on record”, said Beth Mosher, AAA Chicago spokesperson.

The average gallon of regular unleaded gas last year was 50 cents higher than this year.

Lower gas prices have also saved US drivers about $20 billion on gas so far this year, compared to the same period in 2015.

AAA reps say 43 Million Americans are traveling, and 1 million of them are from the Washington, D.C., area.

Gas prices in Minnesota this week two years ago averaged about $3.61 a gallon – about $1.40 a gallon more than where they are now.