Fracking and the Fourth: AAA Projects Lowest July Fourth Gas Prices Since 2005
As Fourth of July weekend quickly approaches, cities across the country will soon be awash with red, white and blue. But this year, American families will also be seeing a lot more of another color: green. According to the latest data from AAA, gas prices this holiday weekend are projected to be the lowest since 2005 – all thanks to hydraulic fracturing (fracking). As the AAA data shows, the national average for a gallon of gas this Independence Day weekend will be $2.31 – almost 50 cents less than a year ago.
Due to lower prices at the pump, AAA also projects that a greater number of people will be traveling this July 4th than in years past. Nearly 43 million people are estimated to be traveling this weekend, AAA reports, making it the fourth highest volume on record and an astonishing five million more than Memorial Day weekend. Of those 43 million travelers, over 36 million will be hitting the road. That’s a lot of tanks to fill, but with cheaper gas prices this year, the savings can quickly add up. According to the press release:
“U.S. drivers have saved about $20 billion on gasoline so far this year compared to the same period in 2015, which has made travel more affordable in recent years.”
But fracking doesn’t just provide a little extra ‘green’ in American’s pockets; it also means more freedom – freedom from foreign oil producers, that is. As we’ve reported before, thanks to fracking the United States recorded its first ever annual trade surplus with the Organization of Petroleum Exporting Countries (OPEC). Additionally, fracking has helped the United States become the world’s largest oil and natural gas producing country, which in turn has greatly improved U.S. energy security.
With fracking, more abundant oil means cheaper trips to the gas station, improved energy security, and greater freedom from the influence of foreign oil producers. So, whether you are road tripping with friends or driving to pick up some fireworks, let’s not forget to thank fracking this July 4th.