A fragile cease-fire in the Middle East and an oil supply chain without significant disruptions have helped keep gas prices stable.
Summer road trips appear to be safe from a big spike in gasoline prices.
The national average price of gasoline has hovered around $3.20 a gallon this week after Israel and Iran agreed to a cease-fire in a conflict that drew in the United States.
The price of regular gasoline as tracked by AAA was only a few cents higher than the national average a month ago, before Israel began its attacks on Iran in an attempt to set back that country’s nuclear program. And it is more than 20 cents lower than a year ago.
The last time the cost for drivers was lower in late June was in 2021, when the pandemic depressed demand for the fuel. Gas prices are usually higher during the summer months, when demand rises as many Americans get in their cars for vacations and to see family.
AAA expects that travel for the Fourth of July, which this year falls on a Friday, will be record-breaking. Next week, 72.2 million Americans are expected to travel domestically. AAA projects that nearly 62 million of them will do so in cars, 2.2 percent more than in 2024.