Gas, Beef Prices Hit Lows This Fourth Of July
MINNEAPOLIS (WCCO) -- This year there is more to celebrate on the Fourth of July than just our nation's birthday.
Many people are finding a welcome surprise when they go to the gas station and to the grocery store. Nationally gas prices are the lowest they've been during the Fourth of July week, since 2005 -- that's according to the consumer website GasBuddy.com.
And beef is cheaper, too -- a recent boost in beef production has dropped prices to their lowest level in three years.
While you might expect a traffic jam on the highway, you may also find one at the gas station this week. At Kaposia Convenience Center in South St. Paul -- where a gallon of regular unleaded gas is selling for $2.06 -- nearly every pump has someone filling up.
"I like it," driver Doug Burns said. "It means we have more money for other things."
GasBuddy shows the average price for a gallon of unleaded gas in Minnesota was $2.17 Monday. Nationally, it's $2.21, which falls below the 10-year average of $3.14. Many remember years when gas was much more expensive during this holiday weekend.
"I remember not too many years ago it was around four-something a gallon, and it would be $70 to fill this thing up," Burns said. "And now I just filled it up and it's like, $37.40. It's, like, half price."
You can thank a global supply glut for the drop in gas prices, and a boost in the production of beef for lower spending at this year's cookout. Some grocery stores are eagerly spreading the news of reduced ground beef and steak prices.
For guys like Steve McWhorter of Racine, Wisconsin, who's visiting friends and family in the Twin Cities this week, it's a great combination.
"I'll have more money to spend on other things, so it works out," he said. "More food for the barbecue."
South Carolina has the lowest gas prices right now at $1.89 a gallon for regular unleaded and Hawaii the highest at $3.00.
