Memorial Day gas prices are considerably higher than they were last year so make sure you consider this factor before deciding how to travel to see your friends and family.
According to AAA, an estimated 41.5 million Americans will be hitting the roads this weekend in anticipation of Memorial Day, which is Monday, May 28. There has been a spike in crude oil prices that has caused the national average price of gas to increase by 31% compared to this time last year, according to GasBuddy.
The price is now at around $2.98 a gallon, up from the $2.38 a gallon from Memorial Day 2017. These are the highest Memorial Day gas prices since 2014, when crude was selling in the triple-digit territory.
“Without a doubt people are noticing and they’re feeling the pinch,” said Patrick DeHaan, head of petroleum analysis at GasBuddy, a platform that helps drivers find real-time prices. AAA added that there are fifteen states that are already charging travelers $3 or more per gallon, including New York, New Jersey and Illinois.
Gas in California and Hawaii are especially high as these are two of the most expensive gas states. The Memorial Day gas prices in these states is north of $3.70 a gallon, according to GasBuddy.
Part of the reason for the increases in gas prices is the fact that people are driving more.
