It’s not good news once again at the pump as we head into the holiday weekend. According to the American Automobile Association (AAA), the national average for a gallon of gasoline was $4.59 on May 23rd (up $1.56 more from a year ago) and all 50 states are above $4 per gallon. AAA says the national average has either remained flat or risen every day since April 24. It set a new daily record on May 10 when it surpassed the previous record high of $4.33, set on March 11 of this year.
The continued high gas prices come as many Americans prepare to travel for the Memorial Day weekend. AAA expects Memorial Day weekend travel to be the busiest in two years. Its forecasters predict that 39.2 million people will travel 50 miles or more from home this Memorial Day weekend- marking the second-highest single-year increase in travelers since 2010 (2021 the highest). This brings travel volumes almost in line with pre-pandemic levels.