Gasoline prices are expected to be the highest for a Memorial Day weekend in seven years, and prices could stay elevated all summer, as Americans take to the road in a post-coronavirus pandemic driving spree.
The current average price for a gallon of unleaded gasoline of $3.04 per gallon, 16 cents more than a month ago and $1.08 per gallon higher than last year, according to AAA. The motor club federation expects 37 million Americans to travel this weekend, a 60% increase over last year when the economy was still shut down.
- Gasoline prices are the highest for a Memorial Day holiday weekend since 2014.
- Prices are expected to range around $3 and stay elevated through the summer, as Americans get on the road resuming normal activities and taking driving holidays.
- The Colonial Pipeline outage earlier this month is over, but there are still some areas with short supplies. Nevertheless, drivers should still be able to fill up over the long weekend.