Gasoline prices are slightly lower than five weeks ago but remain higher than last year's Memorial Day prices.
The average retail price of a gallon of regular gasoline in the United States was $3.58 on the Monday before Memorial Day , which was 1% higher than last year’s pre- Memorial Day gas price, the U.S. Energy Information Administration EIA said on Thursday. Over the past five weeks, Middle East tensions have eased, while U.S. refinery activity has increased after the end of seasonal maintenance, contributing to a 2% decline in average retail gasoline prices , the administration noted.
The average American traveler has two road trips planned, with many venturing far – 49% expect to drive 5 or more hours to reach their destination, according to the survey. GasBuddy expects the national average price of gasoline will hold in the mid-$3 per gallon range for much of the summer, with potentially tens of thousands of stations falling below $3 per gallon throughout the next several months. GasBuddy forecasts that gas prices will average $3.
Gasoline Prices Memorial Day United States Demand EIA Geopolitics Oil Prices
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