Energy

Memorial Day gas prices are the highest in 7 years and could stay high

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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…



Source cnbc.com

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