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Cheap Gas Prices for 4th of July Not Happening

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Sacramento, June 30- Average retail gasoline prices in Sacramento have risen 3.7 cents per gallon in the past week, averaging $4.01/g yesterday, according to GasBuddy's daily survey of 720 gas outlets in Sacramento. This compares with the national average that has not moved in the last week to $3.68/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Sacramento during the past week, prices yesterday were 19.5 cents per gallon higher than the same day one year ago and are 0.9 cents per gallon higher than a month ago. The national average has increased 3.5 cents per gallon during the last month and stands 17.7 cents per gallon higher than this day one year ago.

"Just in time for the July 4 weekend, it appears the national average has hit a new 2014 high in the last week," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "The good news is that we're seeing signs that the peak price we hit last week is starting to unwind, but with July 4 just days away, motorists shouldn't be expecting any big retreats in price before the weekend. The situation in Iraq has cooled, and if the situation remains calm and hurricane season continues to be a non-story, motorists will continue to see a slow decline in prices. But while the situation is slowly turning around and prices declining, it will still be the most expensive July 4 at the pump since 2008," DeHaan said.

About GasBuddy

GasBuddy operates SactoGasPrices.com and over 250 similar websites that track gasoline prices at over 140,000 gasoline stations in the United States and Canada. In addition, GasBuddy offers a free smartphone app which has been downloaded over 25 million times to help motorists find the lowest gasoline prices in their area.