(July 7, 2020) The national gas price average increased just one cent to $2.18 on the week despite a dip in U.S. demand for gasoline and gasoline stocks increasing by 1 million barrels. The slight drop in demand — 47,000 barrels a day — amid the increase in stocks comes as many states report increases in COVID-19 cases, potentially causing Americans to reconsider outings. However, for motorists who hit the road for the Independence Day holiday, gas prices were a welcome sight.

“Independence Day weekend gas prices were nearly 60 cents cheaper than last year and on top of that, they were the most inexpensive prices seen for the holiday since 2004,” said Jeanette Casselano, AAA spokesperson.

Beyond typical fluctuation at the pump, on the week a few states saw prices jump due to fuel tax increases on July 1. This includes California, Illinois, Indiana, Iowa, Nebraska, South Carolina and Maryland.

Quick stats

    •    The nation’s top 10 largest weekly changes: Florida (+8 cents), Washington, D.C. (+6 cents), Nebraska (+6 cents), Indiana (-5 cents), South Dakota (+3 cents), Utah (+3 cents), Ohio (-3 cents), Kentucky (-3 cents), Michigan (-3 cents) and California (+2 cents). 

    •    The nation’s top 10 least expensive markets: Mississippi ($1.82), Louisiana ($1.84), Arkansas ($1.86), Texas ($1.87), Alabama ($1.88), Missouri ($1.88), Oklahoma ($1.88), South Carolina ($1.91), Tennessee ($1.93) and Kansas ($1.96).