Independence Day is right around the corner, and you might want to stock up on fireworks sooner rather than later, lest you encounter low stock and higher prices.

Fireworks are in short supply, according to several reports across Texas that state the fireworks industry is seeing a 30% dip due to supply chain issues.

With 165 fireworks stands and 13 box stores across Central Texas, Austin's American Fireworks owner Chester Davis said there's a "tremendous shortage" of product due to COVID-19, which forced Chinese factories to slow production.

Davis orders fireworks a year in advance and said he's still waiting on shipments from a year ago—he said even sparklers are hard to keep on the shelves.

The shortage means that prices are likely to be higher this year. Davis said since transportation costs have tripled, some items may have markups as high as 15% or 20%, though some items are the same price as the year before.

Davis recommends getting to the stands to get your colorful explosives early this year if you want to have any type of spectacular celebration. Fireworks sales started Thursday and while stands are stocked for now, that may not be the case come the Fourth of July.