As you prepare to take your summer vacations and Fourth of July trips, you’re probably bracing yourself for how much your drive to the beach will cost.
The good news is it may not be as much as you expect -- or at least not as much as it used to be.
According to AAA’s daily fuel gauge report, the average national cost of gas was about $3.53 per gallon, the Maryland state average cost was $3.32 per gallon and the average for the D.C. suburbs was $3.35 as of early this morning.
These costs have been steadily declining since the nation experienced a peak average price in April at $3.94 per gallon, AAA Mid-Atlantic says.
In addition, the national average has decreased by $0.19 per gallon, the Maryland state average has decreased by $0.26 per gallon and the average for the D.C. suburbs has decreased by $0.28 per gallon compared to this time last year, according to the fuel gauge data.
According to the U.S. Energy Information Administration, crude oil makes up about 66 percent of what we pay for in gas, with the rest of the costs divided almost evenly between taxes, distribution and refining.
AAA Mid-Atlantic reported that crude oil prices have dropped 27 percent since they peaked in February of this year, and oil's plummeting price is playing a major part in the declining costs of gas.
For more information on the cheapest gas prices in your town or city, check out AAA’s fuel finder.