U.S: 4th of July celebrations boosted by lowest gas prices in five years

Nationwide gas prices are expected to hit the lowest prices in five years as millions of Americans prepare to travel for the long Independence Day weekend.

Cheap gasoline prices are expected to accompany an estimated 41.9 million Americans taking to the highway and travelling 50 miles or more between July 1 and July 5, according to the AAA. If correct, this would be the busiest Independence Day holiday since 2007, when 4.3 million travellers took to the roads.

“It is much easier for a driver to take a summer road trip knowing that they have saved hundreds of dollars on gas so far this year,” AAA spokesman Avery Ash said in a statement. “This could be the year of the summer road trip with lower gas prices motivating millions of people to travel.”

The national average for regular gasoline on Wednesday was $2.76 per gallon, signifying a 90 cent reduction from the same time last year. Average diesel prices are currently at $2.84, which means a $1.06 drop in comparison to 2014, according to AAA’s Daily Fuel Gauge Report. This month has seen the smallest gap in prices of diesel and gasoline since August 2009, reported Green Car Reports.

“Lower gas prices are added incentive for travelers to pack-up the family vehicle and hit the road this Independence Day,” AAA spokesman Mark Jenkins said in a press release. “Gas prices are likely to continue falling through the holiday weekend, and travelers will find the cheapest gas prices in at least five years.”

The US is expected to hold a busy summer driving season encouraged by lower gas prices and a stronger national economy. Gasoline consumption has gone up 4.5 percent in the last month in relation to the same time last year, setting high standards for the following months, the AAA said.