The Car and Truck Fleet and Leasing Management Magazine

Independence Day Gasoline Lowest in Decade

July 05, 2016

Photo via Wikipedia.
Photo via Wikipedia.

The national average price of a gallon of unleaded reached the lowest point over the Independence Day holiday in a decade as tracked by AAA.

The average price reached $2.27 and has fallen for 24 consecutive days and was the lowest in that time frame since 2005. The U.S. Department of Energy released similar data showing regular unleaded falling 3.8 cents on the week to $2.291 by July 4, which represents a decline of 50.2 cents from a year ago.

The current price level represents a three-cent-per-gallon savings for the week and nine-cent savings for the month, according to AAA.

"Year-over-year drivers continue to benefit from noticeable discounts at the price to refuel their vehicles and prices are down 50 cents per gallon versus this same date last year," according to a AAA release.

Among the regions tracked by the DOE's Energy Information Administration, the Midwest saw the sharpest decline of 8.3 cents to $2.208. The Gulf Coast's $2.074 price is the lowest among the nine regions.

Meanwhile, the price of diesel fell three-tenths of a cent to $2.423. Diesel is 40.9 cents lower than it was a year ago.

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Al Cavalli's fleet industry career began in 1948 at Universal CIT Credit Corp. (UCIT) working with mentor Emil Ames.

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