{"id":27415,"date":"2025-05-22T21:47:20","date_gmt":"2025-05-22T21:47:20","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/memorial-day-weekend-gas-prices-could-be-cheapest-since-2021\/"},"modified":"2025-05-22T21:47:20","modified_gmt":"2025-05-22T21:47:20","slug":"memorial-day-weekend-gas-prices-could-be-cheapest-since-2021","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/memorial-day-weekend-gas-prices-could-be-cheapest-since-2021\/","title":{"rendered":"Memorial Day weekend gas prices could be cheapest since 2021"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>Good news for the nearly 40 million Americans expected to hit the road this Memorial Day weekend: Gas prices are likely to at their lowest level since 2021, industry estimates show.<\/p>\n<p>Motorists can expect to spend an average of $3.08 for a gallon of regular gas over the federal holiday, according to GasBuddy, a fuel savings platform. That&#8217;s 50 cents a gallon less than for Memorial Day in 2024.\u00a0<\/p>\n<p>GasBuddy also expects prices at the pump to ease slightly over the summer to a national average of $3.02 per gallon through Labor Day. Prices could even dip below $3 a gallon toward the end of the summer, according to the firm&#8217;s most recent forecast.\u00a0<\/p>\n<p>Excluding 2020, when the COVID-19 pandemic first struck, the national average gas price is forecast to be the lowest it&#8217;s been since 2003, when adjusted for inflation. \u00a0<\/p>\n<p>Cheaper gas this time of year is unusual given that fuel prices typically rise during the spring and summer as demand increases. Federal regulations requiring that refineries shift to summer-grade blends that are less likely to evaporate also tend to boost fuel costs, according to the <a href=\"https:\/\/www.eia.gov\/energyexplained\/gasoline\/price-fluctuations.php#:~:text=Gasoline%20prices%20generally%20follow%20crude%20oil%20prices.&amp;text=Gasoline%20prices%20tend%20to%20increase,expected%20gasoline%20demand%20or%20consumption.\" target=\"_blank\" rel=\"nofollow noopener\">Energy Information Administration<\/a>.\u00a0<\/p>\n<p>Between 2004 and 2023, the average price of gas in August was roughly 40 cents per gallon higher than in January, the agency has found.\u00a0<\/p>\n<h2>Cheapest and priciest gas by state<\/h2>\n<p>Nationwide, these 10 states have the lowest average gas prices, according to <a href=\"https:\/\/www.gasbuddy.com\/usa\" target=\"_blank\" rel=\"nofollow noopener\">GasBuddy<\/a>:<\/p>\n<ul>\n<li>Mississippi \u2014 $2.64 per gallon<\/li>\n<li>Louisiana \u2014 $2.69<\/li>\n<li>Alabama \u2014 $2.72<\/li>\n<li>South Carolina \u2014 $2.77<\/li>\n<li>Tennessee \u2014 $2.77<\/li>\n<li>Oklahoma \u2014 $2.77<\/li>\n<li>Arkansa \u2014 $2.77<\/li>\n<li>Texas \u2014 $2.77<\/li>\n<li>Kentucky \u2014 $2.85<\/li>\n<li>North Carolina \u2014 $2.87<\/li>\n<\/ul>\n<p>The 10 states with the priciest gas:<\/p>\n<ul>\n<li>California \u2014 $4.83<\/li>\n<li>Hawaii \u2014 $4.46<\/li>\n<li>Washington \u2014 $4.37<\/li>\n<li>Oregon \u2014 $3.94<\/li>\n<li>Nevada \u2014 $3.87<\/li>\n<li>Alaska \u2014 $3.59<\/li>\n<li>Illinois \u2014 $3.42<\/li>\n<li>Arizona \u2014 $3.37<\/li>\n<li>Pennsylvania \u2014 $3.31<\/li>\n<li>Idaho \u2014 3.27<\/li>\n<\/ul>\n<h2>What&#8217;s driving down the price of gas?<\/h2>\n<p>One factor contributing to lower gas prices around the U.S. is uncertainty over the impact of the Trump administration&#8217;s economic policies, which is damping demand, according to GasBuddy. Increased oil production by the OPEC+ countries has also lowered the cost of crude, while members of the group could further boost supplies in July, Bloomberg News <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-05-22\/opec-discusses-making-another-super-sized-output-hike-in-july?sref=sBMxP0gT\" target=\"_blank\" rel=\"nofollow noopener\">reports<\/a>.\u00a0<\/p>\n<p>Since mid-January, global oil prices have fallen by $20 a barrel, reflecting both supply increases and weak demand expectations, according to an analysis from Goldman Sachs Global Investment Research.\u00a0<\/p>\n<p>By contrast, lower oil prices likely won&#8217;t offset the inflationary effects of U.S. tariffs, according to the researchers, who noted that consumers are bracing for higher prices because of the levies.\u00a0<\/p>\n<p>Although motorists will mostly find modest gas prices this Memorial Day weekend, other vacation-related expenses are up. Any savings on gas could end up being spent on entertainment, with costs\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/summer-vacation-save-money-memorial-day\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">up 3.4% from a year ago<\/a><\/span>, according to NerdWallet. The cost of dining out is also up 4%, according to the personal finance site.<\/p>\n<p>    <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \">\n        <\/aside>\n<p>    <!-- tags --><\/p>\n<div class=\"content-author\">\n      <a href=\"https:\/\/www.cbsnews.com\/team\/megan-cerullo\/\" class=\"content-author__name\" data-invalid-url-rewritten-http=\"\">Megan  Cerullo<\/a><\/p>\n<div class=\"content-author__bio\">\n<div class=\"content-author__full-information\">\n<p class=\"content-author__text\">Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24\/7 to discuss her reporting.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/2025-memorial-day-weekend-gas-prices\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good news for the nearly 40 million Americans expected to hit the road this Memorial Day weekend: Gas prices are<\/p>\n","protected":false},"author":1,"featured_media":27416,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[4107,1057],"class_list":["post-27415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-watch","tag-gas-prices","tag-oil-and-gas"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Memorial Day weekend gas prices could be cheapest since 2021 - World News<\/title>\n<meta name=\"description\" content=\"Americans preparing to hit the road for Memorial Day are likely to find lowest fuel prices in years, according to Gas Buddy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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