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Gas prices expected to be highest on Memorial Day since 2014, says AAA

2021-05-25
Business
Business Beat

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(Justin Sullivan/Getty Images)

By Isoken Osagie

The American Automobile Association says gas prices will be around $3.00 per gallon over Memorial Day weekend — the highest since the 2014 holiday weekend.

ABC News reports that the increase is an effect of the Colonial Pipeline cyberattack as well as increased demand.

The average gas price in the U.S. for the week of May 17 was $3.11 per gallon and the week before that the average was $3.05 per gallon, according to the United States Energy Information Administration.

"Prices have been going up, really, since last November and that's just a story that the vaccine continues to allow," said Patrick De Haan, head of Petroleum Analysis at GasBuddy. "Americans are getting back to normal. You couldn't drive to go see an MLB game, but now you can. You couldn't drive to go see a NHL game, and now you can. There's a lot more things for Americans to do now that the economy's reopening."

"I'd say what we're seeing now is just the market stabilizing, in terms of seeing pumps being refueled, but also remaining high because we know demand is going to be pretty significant," said Jeanette McGee, director of AAA's external communications.

For those planning to travel during Memorial Day weekend, McGee recommends filling up once you're at a quarter tank.

Additionally, McGee says cheaper prices might be found in town as opposed to gas stations off the highway.

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