Gas Prices Rise as Nearly 42 Million Americans Plan to Road Trip for Memorial Day Weekend

More than 41.5 million Americans will travel this Memorial Day weekend, a number that is up roughly 5 percent from last year and the most since 2005, according to AAA. These numbers remain steady despite the fact that gas prices rose last week in most markets, primarily due to reductions in domestic supply and the oil market’s response to the President’s decision to leave the Iran Nuclear Deal. Gas prices for Memorial Day weekend are expected to hit a four-year high. Gas prices averaged $2.72 last month, up 33 cents from last year due to expensive crude oil, record gasoline demand and shrinking global supply. Last year, gas prices on Memorial Day averaged $2.37 nationwide ($2.31 in Florida), which is still below 2014 levels, when the national average was $3.66 ($3.62 in Florida). AAA says Central Florida should brace itself for impact: Orlando once again tops the list of the most-visited Memorial Day destinations in the U.S., based on AAA advance travel bookings. …

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