If you’re planning on hitting the road this holiday weekend, be prepared for a little shock at the pump, as gas prices could go up this Memorial Day weekend due to a spike in travel.
According to AAA’s gas calculator, the average price for a gallon of gas in the United States is $3.61, with highs in some states of $5.17 and lows in others of $3.05.
But with AAA predicting this to be the busiest Memorial Day for travel since 2005, with 43.8 million people expected to travel, gas prices are expected to rise.
“We haven’t seen Memorial Day weekend travel numbers like these in almost 20 years,” Paula Twidale, the Senior Vice President of AAA Travel, said in a statement. “We’re projecting an additional one million travelers this holiday weekend compared to 2019, which not only means we’re exceeding pre-pandemic levels but also signals a very busy summer travel season ahead.”
Additionally, AAA is predicting that a record-high 38.4 million people will roadtrip 50 miles or more this holiday weekend, the largest number expected to do so since 2000.
Compared to a year ago, gas prices today are nearly the same, though last May, it was seven cents cheaper to fill up at the pump. However, prices have fallen for four straight weeks.
But, with the expected increase in road travel, the surge in demand for fuel is expected to play a role in prices going up ahead of and after the weekend.
Still, there is a potential positive outlook, as Patrick De Haan, the head of petroleum analysis for the gas monitoring company GasBuddy, shared in a statement that motorists might be in for a surprise.
De Haan shared that his company is forecasting that “gas prices over the next few months will stay far under record levels and should continue trending lower as we get closer to July 4.”
“While the Middle East, hurricane season, refinery maintenance, and any other unexpected disruptions or weather remain wildcards, this summer is shaping up to be mostly favorable for drivers hitting the road,” De Haan said.
Currently, the U.S. Energy Information Administration is expecting gas prices to average $3.70 per gallon nationally.