Memorial Day weekend will be an Expensive one if Traveling as Gasoline Hits Record High
More than 39 Million people are expected to be on the move this Memorial Day weekend, and it’s expected to be an expensive one at that...
More than 39 Million people are expected to be on the move this Memorial Day weekend, and it’s expected to be an expensive one at that.
The average price in the United States for a gallon of gas has set a record today at $4.61, according to the data from AAA. The price was hovering just around $4.60 for most of last week but shifted this morning.
On the other side of oil and gas, the diesel price slipped last week and is now $5.529 this weekend. Drivers were paying on average $3.04 for a gallon of gas this time last year.
Many analysts have cited that elevated crude prices and increased demand are the two driving factors behind the crazy price surges. Crude oil prices seemed to be stable this last week but remain up 60%+ in 2022.
A survey conducted by GasBuddy found that Memorial Day weekend will be the most popular travel weekend of the summer with respondents still expressing concerns about inflation. A ridiculous 70% of respondents also said their summer travel plans have been affected by the historic gas prices. This figure is sadly up nearly three times from a year ago.