2 hours ago - Energy & Climate
July 4 gas prices will be the highest since 2022
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The average regular U.S. gasoline price is $3.85 as of Thursday morning, per AAA data.
Why it matters: That's lower than it was, but it's by far the highest price heading into the July 4 weekend since 2022, when the national average was $4.80 on the holiday itself.
The big picture: The politics of gas prices are tricky these days.
- The price surge during the Iran war that started in late February, which you can see above, could hurt Republicans in the midterms.
- On the other hand, the trajectory has been sharply downward in recent weeks since prices peaked at $4.56 per gallon in May.
What we're watching: President Trump this week issued a vague threat of "big problems" unless gasoline retailers cut prices more quickly.
