But Seiter doesn’t think the holiday will drive up gas prices that much.
“I don’t think the fourth will have a significant impact (on gas prices) as we head into this weekend,” he said.
Patrick DeHaan, senior petroleum analyst at Gas Buddy, a website that lists gas prices for every city in the U.S., said the holiday may have no impact at all. It’s a common misconception that gas prices go up around every holiday, he said.
“That’s not really the case. We looked at the past few years, and on occasion, gas prices do go up on July 4th, but that could be coincidental,” DeHaan said. “People become more price sensitive to prices of gas as they approach July 4 because they may be hitting the road for the holiday. “
DeHaan also said that sometimes when one gas station raises its prices, others in the area follow suit.
“Whether or not all stations will follow will be seen,” DeHaan said. “They’re probably losing a lot of money, which is why some stations are looking to raise their prices. I’m not saying that is warranted, but some stations are going to follow others.”