• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 2 days Even Shell Agrees with Climate Change!
  • 8 days America should go after China but it should be done in a wise way.
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 4 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 4 days World could get rid of Putin and Russia but nobody is bold enough
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Mysterious Power Outage Paralyzes Tajikistan

Mysterious Power Outage Paralyzes Tajikistan

Tajikistan experienced a significant power…

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Premium Content

Memorial Day Drivers Get Cheaper Gasoline Prices Thanks To Flagging Crude

  • Gasoline prices were up slightly on Memorial Day in the United States, although the price at the pump is still less than a year ago.
  • The national average price for a gallon of gasoline at American pumps on Monday was $3.582, up from $3.540 a week ago, but down from the year-ago average of $4.610.
  • Memorial Day gasoline demand is expected to spike by 6% year-over-year, with more than 37 million Americans expected to hit the roads over the holiday weekend.

Gasoline prices in the United States were up slightly on Memorial Day, the official start of the summer driving season, though Americans are still paying less at the pump than they were a year ago, or even a month ago. 

The national average price for a gallon of gasoline at American pumps on Monday was $3.582, up from $3.540 a week ago, but down from the month-ago average of $3.615 and the year-ago average of $4.610, according to AAA.

Gasoline prices are still higher than they were prior to 2022 when Russia launched its invasion of Ukraine.

Consumers on the West Coast continue to see the highest gasoline prices, while the cheapest prices are found in the Southeast.

Forecasters expect Memorial Day gasoline demand to increase by 6% year-over-year for 2023, predicting that more than 37 million Americans will have hit the roads over the extended holiday weekend.

The Energy Information Administration (EIA) released data last week showing that gasoline demand had risen from 8.91 to 9.43 million barrels per day, while domestic gasoline stockpiles saw a draw of 2 million barrels, suggesting a possible tightening of supplies if sustained.

Low crude oil prices continue to help keep gasoline prices down, with AAA anticipating that prices at the pump will either be flat or fall further after Memorial Day. 

Americans are closely watching pump prices amid economic uncertainty.

While crude oil trading was set to be subdued on Monday due to public holidays in both the U.S. and the UK, crude oil prices fell further in morning trading despite a tentative debt ceiling deal in Washington that is expected to avert a default. The agreement between President Joe Biden and House Speaker Kevin McCarthy will suspend the $34.5-trillion debt ceiling and cap government spending for the next two years. Democrats and Republicans must now vote to support the deal, which means this battle is not yet over, and market jitters remain. 

By Charles Kennedy for Oilprice.com


More Top Reads From Oilprice.com:

Download The Free Oilprice App Today

Back to homepage

Leave a comment
  • George Doolittle on May 29 2023 said:
    The cheapest prices are obviously in Texas and Oklahoma and 2nd to that the "Upper Midwest" in effect Ohio and Indiana...not upon the US Southeast where compared to one Year ago prices are much higher...as are interest rates i might add.

    "Best money ever spent" of course..

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News