Millions Expected to Travel for Fourth of July Despite High Gas Prices

High gas prices are not putting the brakes on Fourth of July travel this year.

According to AAA, more than 72 million people are expected to travel 50 miles or more to celebrate Independence Day, with the majority choosing to drive.

AAA estimates more than 61 million travelers will hit the road between Saturday, June 27, and Sunday, July 5.

“Gas prices really haven’t deterred many people and kept them home from travel,” said Aixa Diaz with AAA.

There is some relief for drivers. As of Wednesday, the national average for a gallon of regular gas was $4.03, down 48 cents from a month ago.

But prices are still much higher than the $3.15 drivers were paying during the Fourth of July holiday last year.

“And we’re probably not going to get that low,” Diaz said. “But if we could even get below $4 a gallon for the national average, that would be an improvement for drivers.”

Experts say global tensions continue to impact prices.

Since the war with Iran began at the end of February, gas prices have climbed more than 30% as maritime traffic through the Strait of Hormuz was disrupted, affecting oil supply worldwide.

Even if a peace agreement is reached, analysts warn drivers should not expect immediate relief.

“Underneath it all, we still have a supply shortage,” said OPEC expert Amina Bakker with Kpler. “It is going to take months to return back to normality.”

For now, prices at the pump are expected to ease slowly as oil production ramps back up.