National Average Gas Price Nears Record High Ahead of Memorial Day
Gasoline prices across the United States are approaching historic levels as the Memorial Day weekend begins. AAA projects more than 39 million people will travel by car despite the elevated costs.
Fox NewsAmericans traveling for the Memorial Day weekend will encounter some of the highest gasoline prices on record. National averages are near previous peaks, with regional prices varying sharply.
West Coast states show the largest increases. 70 per gallon, according to data compiled by AAA. 62 per gallon in Pennsylvania. 51 per gallon respectively. 01 per gallon. Diesel prices have risen faster than gasoline. 10 over the past year.
The price increases follow supply disruptions linked to tensions in Iran that began in late February. Fox News reported that shipping bottlenecks and blockades have reduced available crude supplies. President Donald Trump released record volumes of oil from the Strategic Petroleum Reserve and proposed a federal gas tax holiday. S.
ports. AAA stated that more than 39 million people are still expected to travel by car over the holiday weekend despite the higher costs.
Key Facts
Story Timeline
4 events- Late February
Conflict in Iran began, disrupting oil supplies.
1 sourceFox News - Recent weeks
President Trump released oil from the Strategic Petroleum Reserve.
1 sourceFox News - Recent weeks
Administration waived the Jones Act to speed fuel transport.
1 sourceFox News - Current
National gas prices hover near record territory ahead of Memorial Day.
1 sourceFox News
Potential Impact
- 01
Higher diesel prices may increase freight and grocery costs.
- 02
States with prices above $5 may see reduced discretionary travel.
Transparency Panel
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