Gas prices stun analysts: July 4 lower than Jan. 1: Talk about fireworks.

For the first time its 17-year history, consumer data tool GasBuddy is projecting that gasoline prices will be lower on the Fourth of July than they were on New Year’s Day.

The stunning reversal in fortune is a direct result of crude oil’s unexpected decline in 2017 amid a growing realization that the global glut of petroleum production isn’t going away anytime soon.

For consumers, that translates into unforeseen savings just in time for the heart of the summer travel season.

GasBuddy is projecting a nationwide average of $2.21 per gallon on July 4, which would be 12 cents lower than the price at the year’s inception. That’s also the lowest price on Independence Day since 2005.

It’s “quite the dramatic turnaround” after previous projections that gasoline would near $3 per gallon this summer, GasBuddy petroleum analyst Patrick DeHaan said.

Americans save $4 million per day for every 1 cent drop, DeHaan said. “It really adds up,” he said.

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Gas prices stun analysts: July 4 lower than Jan. 1: Talk about fireworks.For the first time its 17-year history, consumer data tool GasBuddy is projecting that gasoline prices will be lower on the Fourth of July than they were on New Year’s Day.The stunning reversal in fortune is a direct result of crude oil’s unexpected decline in 2017 amid a growing realization that the global glut of petroleum production isn’t going away anytime soon. For consumers, that translates into unforeseen savings just in time for the heart of the summer travel season. GasBuddy is projecting a nationwide average of $2.21 per gallon on July 4, which would be 12 cents lower than the price at the year’s inception. That’s also the lowest price on Independence Day since 2005.It’s “quite the dramatic turnaround” after previous projections that gasoline would near $3 per gallon this summer, GasBuddy petroleum analyst Patrick DeHaan said.Americans save $4 million per day for every 1 cent drop, DeHaan said. “It really adds up,” he said.