Gas Prices Soar To 7-Year High As Stations Run Out Of Fuel

National Gas Prices Continue To Rise, Averaging Over $4 In California

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As tens of millions of people across the country prepare to get away for the Fourth of July weekend, the price of gas continues to climb, reaching a seven-year high. The national average price for a gallon of gas stands at $3.10 and hasn't been that high since October 2014.

In addition to the higher prices, some stations are struggling to keep fuel in their pumps. Demand has spiked over the past few months as coronavirus restrictions have been lifted, and people are eager to get away for the long weekend. While there is enough gasoline to meet that demand, there are not enough tanker truck drivers to transport it to the gas stations.

Around 25% of tanker trucks are currently sitting idle across the country, according to the trade group National Tank Truck Carriers.

"It used to be an afterthought for station owners to schedule truck deliveries. Now it's job No. 1," Tom Kloza, global head of energy analysis for the Oil Price Information Service, told CNN. "What I'm worried about for July is the increased demand works out to about 2,500 to 3,000 more deliveries needed every day. There just aren't the drivers to do that."

Kloza said he's concerned that the problem could worsen as drivers notice stations that are out of fuel. That could cause them to buy gas more often and top off their tank to avoid running out of fuel, making the gas shortage worse.

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