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Memorial Day gas prices are the highest in seven years


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Memorial Day gas prices are the highest in seven years

Gasoline prices are expected to be the highest for a Memorial Day weekend in seven years, and prices could stay elevated all summer, as Americans take to the road in a post-coronavirus pandemic driving spree.

The current average price for a gallon of unleaded gasoline of $3.04 per gallon, 16 cents more than a month ago and $1.08 per gallon higher than last year, according to AAA. The motor club federation expects 37 million Americans to travel this weekend, a 60% increase over last year when the economy was still shut down.

Gas prices jumped earlier this month, particularly in the Southeast, after the Colonial Pipeline went off line for six days after a ransomware attack. In some Southern states, gasoline jumped more than 20 cents per gallon as panicked drivers filled their tanks and shortages shut down stations.

Gasoline demand last week reached 9.5 million barrels a day, the highest since March 13, 2020, which was just when the economy began to shut down, according to the latest Energy Information Administration data.

“There’s part of me that feels like the market has a potential to overheat this summer, just because people are stuck here,” said Patrick De Haan, head of petroleum analysis at GasBuddy. De Haan expects more driving vacations since international travel is still difficult. “Everyone wants to get out. If there’s any hiccup in the system this summer, it’s going to be hard to fuel up.”

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Thanks to Biden we have the highest gas prices in seven years, that goes back to Obama is case anyone has forgotten. When you cut out pipelines and drilling, prices go up.

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5 hours ago, MovieMadness said:

Memorial Day gas prices are the highest in seven years

Gasoline prices are expected to be the highest for a Memorial Day weekend in seven years, and prices could stay elevated all summer, as Americans take to the road in a post-coronavirus pandemic driving spree.

The current average price for a gallon of unleaded gasoline of $3.04 per gallon, 16 cents more than a month ago and $1.08 per gallon higher than last year, according to AAA. The motor club federation expects 37 million Americans to travel this weekend, a 60% increase over last year when the economy was still shut down.

Gas prices jumped earlier this month, particularly in the Southeast, after the Colonial Pipeline went off line for six days after a ransomware attack. In some Southern states, gasoline jumped more than 20 cents per gallon as panicked drivers filled their tanks and shortages shut down stations.

Gasoline demand last week reached 9.5 million barrels a day, the highest since March 13, 2020, which was just when the economy began to shut down, according to the latest Energy Information Administration data.

“There’s part of me that feels like the market has a potential to overheat this summer, just because people are stuck here,” said Patrick De Haan, head of petroleum analysis at GasBuddy. De Haan expects more driving vacations since international travel is still difficult. “Everyone wants to get out. If there’s any hiccup in the system this summer, it’s going to be hard to fuel up.”

*******************************************

Thanks to Biden we have the highest gas prices in seven years, that goes back to Obama is case anyone has forgotten. When you cut out pipelines and drilling, prices go up.

Are you as big an moron as you appear to be?  Do you even read what you copy and paste?  The article you quoted says NOTHING about Biden being responsible for gas prices.  In fact, it says just the opposite.

It is due to (1) shutdown of Colonial pipeline and panicked buying by dumb people, (2) increased travel by vehicles and petroleum industry and fuel sellers capitalizing on that to increase their profits.

As has already been pointed out on other of your threads, drilling this year and pipeline construction this year has ZERO effect on current fuel prices.  The US EXPORTS fuel because it has so much.

Incidentally I took a long trip today and the advertised gas prices were $2.54-2.59 all along the highways.  In addition, 90% of the vehicles were driving 10-30 MPH over the speed limits.

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