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White House touts one-cent cheaper gas for July 4th

July 5, 2024 | | Print Article

The White House was slammed for bragging about gas being cheaper this year, forgetting to add some rather important context.

White House spokesperson Andrew Bates published a celebratory post to X declaring fuel prices to be at the “lowest level in 3 years,” an estimation that comes from GasBuddy. Drivers are expected to see prices around $3.49/gallon, a dramatic drop of exactly one cent from last year’s $3.50/gallon.

In 2022, with the Russian invasion of Ukraine fresh and causing disruption, fuel was an estimated $1.30 higher, meaning current prices have settled to around where they were in 2021. Still, this is a small comfort to Americans whose pocketbooks aren’t celebrating a one-cent difference from last year.

“For those hitting the road to celebrate Independence Day, gas prices have seen modest recent fluctuations, but most states are seeing prices near or even well below where they were a year ago,” said GasBuddy’s Head of Petroleum Analysis Patrick De Haan. “While the first half of the summer has been relatively smooth sailing, the road ahead may be bumpy. Activity in the tropics has increased, and projections remain for a very busy hurricane season. Even after the holiday fireworks are over, we’ll be watching for any potential fireworks at the pump that could be brought on by hurricanes disrupting refineries.”

It’s a fact that means even less when compared with the skyrocketing price of barbecue supplies, according to the American Farm Bureau’s projection. In their report, they estimated that a 10-person get-together would cost a shocking 5% more than last year, or around $71.22 more. When compared to five years ago under President Donald Trump and before COVID, prices are up a whopping 30%.

“Higher prices at the grocery store reflect a number of challenges facing America’s families. Lower availability of some cookout staples and inflation are hitting people in their wallets,” said Roger Cryan chief economist at American Farm Bureau. “Farmers are also feeling the effects of high prices. They’re price takers, not price makers. Their share of the retail food dollar is just 15%, but they still pay elevated fuel, fertilizer and other supply prices.”

Needless to say, it didn’t take long for Americans to weigh in:

Sierra Marlee
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