Particle.news
Download on the App Store
8 ARTICLES
·
6d ago

Memorial Day Gas Prices Projected to Hit 20-Year Inflation-Adjusted Low

The national average is expected to be $3.08 per gallon, with summer prices averaging $3.02, driven by increased oil production and reduced crude costs.

WASHINGTON, DC - JUNE 24: Republican presidential candidate former U.S. President Donald Trump arrives onstage to speak at the Faith and Freedom Road to Majority conference at the Washington Hilton on June 24, 2023 in Washington, DC. Trump spoke on a range of topics, including his recent federal indictment, to an audience of conservative evangelical Christians. (Photo by Drew Angerer/Getty Images)
A customer pumps gas into their vehicle at a Shell station on April 10 in Miami, Florida.
Image
Image

Overview

  • GasBuddy projects the national average for Memorial Day gas prices at $3.08 per gallon, the lowest since 2021 and, inflation-adjusted, the cheapest since 2003.
  • Summer gas prices are forecasted to average $3.02 per gallon, with potential dips below $3 on some days as refinery maintenance concludes.
  • Lower crude oil costs, increased OPEC+ production, and economic uncertainty are key contributors to the current decline in gas prices.
  • AAA predicts a record 39.4 million Americans will drive over Memorial Day weekend, with 69% planning road trips over the summer months.
  • Regional variations persist, with Northeast Ohio seeing prices around $3.034 per gallon, while Mississippi averages the lowest prices nationally at $2.66 per gallon.