Gas Prices Hit July 4th High, Impact Airlines
FOURTH OF JULY HOLIDAY GAS PRICES HIT 4-YEAR HIGH
(CNN) – When gas prices are high, you know it’s summer-time and 4th of July!
As it stands-the national average price for a gallon of unleaded is about $2.86.
AAA reports that’s about 63 cents higher than a year ago.
Higher oil prices may be to blame.
Gasbuddy says the price spike since last year is likely to cause motorists about one billion dollars in extra gas spending over the usual four-day travel period.
Meanwhile, Delta warned investors Tuesday the airline paid more for fuel during its second quarter than in the previous quarter.
But strong demand for travel has allowed airlines to raise fares limiting the hit.