This Memorial Day weekend, gas prices are anticipated to be the lowest in several years when accounting for inflation.
A recent report from Gasbuddy indicates that, as of May 26th, the national average for gas stood at $3.08 per gallon, the lowest price at the pump since 2021.
For the summer season, from Memorial Day to Labor Day, prices are projected to average around $3.02 per gallon.
“We’ve been predicting lower summer gas prices in recent years, but some economic uncertainty has made us a bit cautious. Still, millions of Americans are gearing up for road trips, and many are being more thoughtful about their expenditures,” explained Gasbuddy’s oil analysis lead. “Rather than scrapping their plans altogether, travelers seem to be adjusting their budgets.”
Just under 70% of Americans reported intentions to travel this summer, which is actually a slight decrease from last summer’s 76% who felt similarly.
The majority expect to make at least two trips this season, with surveys showing that about 40% plan to drive for five hours or more to reach their destinations.
Approximately 45.1 million people are expected to journey at least 50 miles from home over Memorial Day weekend, according to AAA. This marks an increase of about 1.4 million travelers compared to 2024, surpassing the previous high of 44 million in 2005.
“Some are set for their dream vacations, flying across the country, but many families are loading up their cars for beach trips or road adventures to visit friends,” said Stacey Barber, AAA Travel’s vice president. “With long weekends ahead, it’s a great opportunity for travel, especially with students and workers having time off.”
