Fourth of July gas prices could be the lowest since 2005

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Fourth of July gas prices could be the lowest since 2005

Michael Ervin, a fuel market analyst with the Kent Group, says lower gasoline prices mainly result from North American refineries being able to buy oil at lower prices.

AAA Texas reported on Thursday, "this is a 4-cent decrease for gasoline across the USA, averaging $2.24 per gallon".

In Canada, the average national price of gas is 103.2 cents per litre as of June 30, according to the Canadian Automobile Association.

Greater Victoria's average price on Thursday was $1.218, well above the national average of $1.044.

Continued declines have brought gas prices in many parts of California to their lowest pre-Independence Day levels since 2005, according to price surveys Friday.

Driving along Route 4 in Englewood, you'll see Delta is king at $1.99 for regular, squeaking by the others by pennies a gallon.

An estimated 44.2 million Americans will travel 50 miles or more from home between Friday and Tuesday, according to AAA.

Other sites among the top 10 include Cancun, Mexico; Honolulu; Anaheim, California; Anchorage, Alaska; and Las Vegas. The spread between the nation's lowest and highest priced gas stations today stands at $1.29 per gallon.

Travelers headed to portions of the Texas coast may encounter the highest prices in the state, according to AAA, which reports drivers in Galveston are paying the most on average at $2.07, while drivers in Amarillo are paying the least at $1.89 a gallon.

Lower than expected demand for gas as the summer driving season starts. Thats 2.1 cents less than last weeks apparent low, which had been spotted in Oklahoma City. They are not independently confirmed. They are calculated daily from credit card purchases and compiled by the Oil Price Information Service and Wex Inc., formerly known as Wright Express.

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