Maryland Gas Prices Below National Average For July 4 Weekend

MARYLAND — Those planning to travel in Maryland for Independence Day might be happy to hear that gas prices on average are not as high as they were a week ago, though they're still higher than last year's average.

The average gas price in Maryland was $4.77 per gallon of regular on Friday, AAA reported, but that's not stopping people from hitting the road to celebrate the holiday.

“Nationally, automobile travel is expected to set a new record with 42 million Americans expected to hit the roads this Independence Holiday weekend,” said Ragina Cooper Ali, spokesperson for AAA in Washington, D.C. and Maryland.

Last week, the average gas price in Maryland was $4.907 — last year it was $3.005. The national average was $4.84 as of Friday.

Most of the people expected to travel will do so via car, AAA said.

“Earlier this year, we started seeing the demand for travel increase and it hasn’t slowed down,” said Ali. "People have made their plans and despite it costing more, they are finding ways to still take that much- needed vacation.”

Why have prices recently decreased?

The national average for gas fell when there was a drop in the price of oil, AAA said. The economic fear of a global recession caused a lesser demand for oil, causing the price to drop to around $107 per barrel, down from $110 last week, the AAA news release says.

“Fear is not a good reason to move a market like the one for oil, but it is a powerful motivator,” said Andrew Gross, AAA spokesperson, in a news release. “The cost of oil accounts for nearly $3 for every $4.89 at the gas pump. Consumers should find more relief when fueling up if oil prices drop further.”

The national average cost of a gallon of gas on Tuesday, when AAA put out the release, was $4.89, which was 9 cents less than a week ago, 30 cents more than a month ago, and $1.80 more than a year ago.