Gas prices across the nation are on the rise after what has been a month-long crash for the oil industry.
Over the past three weeks, the average price of gas per gallon in the United States has jumped up by five cents, to $1.97.
Although prices are rising, they are still well below what we would see going into a holiday week. The last time the national gas price average leading into the holiday was under $2/gallon was 17 years ago in 2003, according to AAA.
“Gas prices around Memorial Day have not been this cheap in nearly 20 years. However, as the country continues to practice social distancing, this year’s unofficial kick-off to summer is not going to drive the typical millions of Americans to travel,” said Jeanette Casselano, AAA spokesperson. “Despite inexpensive gas prices, AAA anticipates this year’s holiday will likely set a record low for travel volume.”
The highest average price per gallon is just over $3 in Honolulu. The lowest average is $1.40 in Tulsa, Oklahoma.
One industry analyst said prices on gas will most likely continue to go up as many state's stay-at-home orders begin to ease.