Gas Prices Rise but Remain Lowest for July 4 Since 2021
Gasoline prices have risen in recent weeks, with a national average of $3.47 per gallon as of July 1, up 4 cents from the previous week. Despite this, prices are the lowest for early July since 2021. GasBuddy projects a July 4 average of $3.50, similar to last year but much lower than 2022’s $4.80.
Regional prices vary, with the West Coast highest at $4.23 and the Gulf Coast lowest at $3.07. The ten cheapest states for gas as of July 2 include Mississippi at $2.95 and South Carolina at $3.21.
Ford Shifts Oakville Plant Focus to Super Duty Truck Production by 2026
Ford announced that its Oakville Assembly Plant in Ontario, Canada, will begin producing Super Duty pickup trucks in 2026. This decision marks a significant shift from previous plans to convert the plant into an EV production facility. Originally, Ford had planned to start building EVs at Oakville in 2025, with a delay announced later pushing the date to 2027, resulting in layoffs. Instead, the plant will now focus on producing up to 100,000 Super Duty trucks annually. Ford intends to introduce "multi-energy technology" to the Super Duty lineup, hinting at future electrified or hybrid options while maintaining non-electrified internal combustion options. This shift aims to preserve 400 more jobs than the original EV plan. Ford still plans to develop three-row EVs but has not provided a revised timeline.
U.S. Diesel Prices Continue Upward Trend
Diesel fuel prices in the U.S. have increased for the third consecutive week, averaging $3.81 per gallon as of July 1, 2024. This marks a rise of over 4 cents from the previous week and nearly 5 cents from last year, though prices are still lower than in April 2024. Regional prices vary, with Hawaii at $5.48 per gallon and Oklahoma at $3.36 per gallon.