Low Gas Prices to Result In Record-Breaking Drivers for Fourth of July
NEW YORK (TheStreet) -- Low gas prices this Fourth of July weekend have will results in a record-breaking 36 million Americans traveling by car. That is 5 million more people than last year, CNBC's Kate Rogers reported on "Squawk Box" Friday.
The national gasoline average is at $2.28 per gallon on Friday morning, Rogers said, citing AAA.
The west coast of the U.S. is going to pay the highest amount for gasoline. California, Hawaii, Alaska, Washington, and Nevada can expect to pay $2.90 per gallon.
The least expensive market for gasoline will be in the southern region of the U.S. in states such as South Carolina, Texas, Mississippi and Alabama which should expect to pay below the national average.
The vote to approve the New Jersey gas tax hike, which would increase the state's gas tax by 23 cents per gallon and decrease sales tax by 1%, has been postponed until after the holiday by the state's Senate, Rogers added.
CNBC asked a number of drivers who have plans to travel this weekend about their thoughts on gas prices.
"July 4th weekend, I plan on taking a long ride up. Really didn't have a destination. Just looking for a really long ride somewhere. Gas prices definitely help out. It is definitely a big incentive into taking like long rides," one of the drivers told CNBC.
"Unless they get over the $4 range that's the only way I would reconsider driving," another said.
Crude oil (WTI) is up by 0.14% to $48.40 per barrel and Brent crude is up 0.12% to $49.77 on Friday morning.
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