Memorial Day Weekend Gas Prices Hit A Four-Year High, And Headed Up

How long before we have a new record high?

Four-Year High

The AAA reports Memorial Day Weekend Gas Prices Hit a Four-Year High

As holiday travelers start hitting the road today in record numbers, Memorial Day weekend gas prices are the highest they’ve been in four years. The national average for a gallon of regular is at $4.56, up 3 cents over last week and $1.38 higher than this time last year. Current prices are close to what drivers were paying 4 years ago, when the national average on Memorial Day was $4.61. With gasoline demand on the rise and the prolonged closure of the Strait of Hormuz, pump prices are likely to remain elevated as the summer travel season gets underway.

AAA Fuel Prices

Gasoline and Diesel prices are little changed from a week ago. West Texas Intermediate Oil Prices have gyrated between $98 and $104 in this timeframe.

Oil futures are up again today, but only to $100 as I type. On top of increasing demand, that should be enough to send gasoline prices higher.

The longer the strait is closed, the higher prices will go.

Trump, not Iran is desperate for a deal.

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