Why Gas Prices Are 31 Percent Higher Than Last Memorial Day

29 May, 2018, 00:49 | Author: Regina Lloyd
  • Source WGCL

AAA says that fifteen states, including New York, New Jersey and IL, are already facing $3 average gas prices or higher.

Many other drivers agreed that high gas prices weren't going to slow them down. As of Friday afternoon, the average price of regular gas in the area was $2.90, up from $2.15 on May 25, 2017. Here, in the state, the average price per gallon is $3.15.

AAA estimates almost 41.5 million Americans will travel by vehicle this holiday weekend.

Despite all these potential problems, hassles and headaches, none of it is keeping the majority of holiday travelers at home.

"Gas prices are typically pretty volatile in the spring time because maintenance that's going on at hte refineries and the refineries are also switching over to the more expensive summer-blended gasolines", said Stephanie Milani from AAA.

However, rising gas prices don't seem to be impacting holiday travel.

However, those prices at the pump can always be higher: Consider that on September 15, 2008, drivers were forking out an average of $4.085 per gallon in North Carolina. "Trends are indicating that this summer is likely to bring the national average to at least $3 per gallon".




GasBuddy attributes this latest surge in oil prices to long-term OPEC production cuts, the United States exiting the Iran nuclear deal, declining USA oil inventories and high demand.

If you head to the gas pump this weekend you might notice a significant price increase compared to Memorial Day weekend a year ago.

Tennessee Department of Transportation Commissioner John Schroer said suspending construction-related lane closures will lessen congestion and delays on Tennessee's major highways.

In addition to high gas prices, drivers should expect to see more troopers on the roads.

We are only a few days away from Memorial Day and many people are wondering what the worst times to travel are.

Planes: 3.1 million people will travel by air, a 6.8 percent increase and the fifth year of consecutive air travel volume increases.

Jackson, who was pumping gas at $2.65 a gallon Thursday at the Food City on Euclid Avenue in Bristol, Virginia, said she couldn't afford to fill her tank.

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