2 July 2024
As Americans prepare for Independence Day celebrations and the start of the summer travel season, they face significantly higher gasoline prices compared to previous years. Since 2016, gas prices have nearly doubled, and they’ve almost quadrupled since 2000. Although prices have eased slightly from the record highs of mid-2022, they remain historically high for US standards. This trend is likely to impact travel plans and dampen the enthusiasm for the holiday, as many Americans traditionally embark on long-distance trips during this period. The persistent high fuel costs reflect a broader trend of increasing gasoline prices over the past decade, potentially causing financial strain for travelers during what is typically a festive season.