The price of gas, food, and even fireworks rain on Americans’ picnics this holiday weekend.

As Americans gather to celebrate Independence Day, many are feeling the pinch of continued high costs associated with the festivities. While the Fourth of July is a time to commemorate the birth of our nation, the financial burden of celebrating has been steadily increasing, posing challenges for families across the country.

Gas Prices: A Historical Perspective

Gas prices have long been an indicator of economic health, impacting everything from travel to the cost of goods. According to data from the Department of Energy, under President Trump the national average of gas prices remained relatively stable, with a notable drop in 2020 to $2.19 per gallon, providing some relief to American consumers during the early months of the COVID-19 pandemic.

The Trump administration:

  • July 2017: $2.29 per gallon
  • July 2018: $2.85 per gallon
  • July 2019: $2.74 per gallon
  • July 2020: $2.19 per gallon

However, in the last few years, gas prices have significantly increased, peaking at $4.77 per gallon in July 2022 before dropping slightly to $3.48 per gallon in July 2024. This rise in fuel costs has had a ripple effect on many families’ budgets including the cost of celebrating Independence Day. 

The Biden administration:

  • July 2021: $3.12 per gallon
  • July 2022: $4.77 per gallon
  • July 2023: $3.52 per gallon
  • July 2024: $3.48 per gallon

The Cost of a Backyard Cookout

According to the American Farm Bureau Federation, it will cost Americans an average of $71.22 this holiday weekend to feed a group of 10 people. “This marks a record high, 5% more than last year and 30% higher than in 2019 before the COVID-19 pandemic,” the Bureau reports. The biggest driver of these increased costs is meat, which is nearly half of the total cost. The price of two pounds of ground beef has surged to an average of $12.77 this year, up 11% from a year ago. Similarly, pork has seen an 8% increase, averaging $15.49.

These rising costs are not just a result of inflation, but also federal policy decisions, according to Consumer Energy Alliance (CEA). An analysis from CEA found that the energy policies of the Biden administration affect farmers directly through overregulation leading to an increase of cost at the grocery store. 

Fireworks: A Diminishing Tradition

Fireworks, a staple of Fourth of July celebrations, are also more expensive according to an article published by governing.com. In 2021, the average import price for fireworks was $1.13 per pound. By the first four months of 2024, this price had jumped to $1.61 per pound, a 42% increase. Rising labor costs at fireworks stands further compound the issue, leading to a decrease in fireworks sales since the pandemic’s peak.

Looking Forward

Supporting local farmers and businesses and promoting energy policies that do not complicate our supply chains, can help mitigate these rising costs. The resilience and ingenuity of the American people will always remain key in finding new ways to celebrate our nation’s independence without breaking the bank.