Gas Drops Down to a 12-Year Low
U.S. gas prices hit a 12-year low over the Fourth of July holiday.
U.S. gas prices hit a 12-year low over the Fourth of July holiday, eliciting praise from President Donald Trump and setting up a much-needed summertime boost for struggling American retailers.
GasBuddy, which has been tracking U.S. gas prices for 17 years, said the average national price of a gallon of gas hit $2.21 over the Independence Day period, the lowest since 2005 and the first time ever that prices were lower on July 4 than they were on Jan. 1. The AAA said prices averaged $2.23 per gallon. The moves correspond with the worst six-month stretch for global oil prices since 1997, driven by a surge in U.S. production and a global supply glut.
Watch More with TheStreet:
- Meet The Women Redefining Business in TheStreet's New Series, Alpha Rising
- This Company Just Became The First Automaker To Set A Date For Phasing Out Combustion Engine Cars
- Has The Children's Place Figured Out How to Beat Amazon?
- Tesla's New Model 3 and Its Key Specs
- What Robert Kiyosaki Has Learned From Working With Donald Trump
