Drivers fueling up for July 4 weekend trips will find gasoline prices higher than a year ago from more expensive crude oil but maybe a few cents cheaper than they are now amid strong supplies and weak demand. US average prices remain near $3.50 a gallon , down slightly from a month earlier, but 15 cents higher than a year earlier.
This year over year increase is due to higher crude oil prices amid concern about disruption of Middle East supplies from the civil war in Syria.
I will also tell you that any decrease in pump prices in coming weeks is likely to be small. “Right now, oil prices in general are pretty steady so expect $3.50 plus going into the Fall.