Sen. Kevin Cramer, R-N.D., breaks down President Biden’s energy push on ‘Kudlow.’
The White House boasted a one-cent decrease in the nation’s year-over-year gas prices on Thursday, the « lowest holiday price » since the previous Fourth of July.
« ‘July 4th gas prices expected to hit lowest level in 3 years,' » White House spokesperson Andrew Bates said in a post on X.
The projection comes from a GasBuddy estimate this week which claimed the $3.49 average cost for gas this Independence Day represents over a $1.30 decline compared to 2022.
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A vehicle is filled up at a Chevron gas station in Houston on Dec. 5, 2022. (Brandon Bell/Getty Images / Getty Images)
« 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, » Patrick De Haan, head of petroleum analysis at GasBuddy, said in a news release. « 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. »
GasBuddy’s projection comes just a few weeks after the American Farm Bureau (AFB) said a 10-person Independence Day cookout price would average $71.22 this year, up 5% compared to last year and almost 30% higher than five years ago.
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President Biden’s administration on Thursday touted the one-cent decrease in the price of gas compared to July 4 of last year. (Getty Images / iStock / iStock)
« 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, » AFB chief economist Roger Cryan said. « 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. »
The bureau’s annual marketbasket survey shows a double-digit increase in the cost of beef and lemonade compared to last year, while chicken breasts and potato salad saw a slight decrease.
HOW IT STARTED… HOW IT’S GOING: JULY 4 BBQ COSTS FLARE UP UNDER BIDEN
WalletHub recently announced the top cities to celebrate the 4th of July this year. (iStock / iStock)
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Fox News Digital has reached out to the White House for additional comment.
