Relief at the pump welcome news for 725,000 Marylanders traveling by car this 4th of July holiday.
Prices at the pump continue to drop as Marylanders prepare to celebrate the Fourth of July holiday. "There are several reasons why. Crude oil continued to trade in sub-$80 territory for most of the week, after reaching the milestone low settlement of $78.20 per barrel last week for the first time since October," said Christine Delise, AAA spokeswoman. There's also concern by many traders about the potential supply directions should the violence in Syria spread to neighboring countries, or should the political transitions in Egypt or Libya impact the global supply chain," continued Delise.
In Maryland, the average price for a gallon of regular unleaded is $3.32 a gallon, which is a nickel lower than it was a week ago. "Analysts predict that the prices will continue to go down. By the end of the summer prices could be 15 to 25 cents lower."
It's welcoming news for motorists embarking on a summer getaway to celebrate this week's Fourth of July holiday. AAA Mid-Atlantic projects an estimated 725,000 Marylanders will travel by car during the holiday period.