Rising Gas Prices Impacting American Travelers This Memorial Day

Americans traveling for Memorial Day face high gas prices, with the national average reaching $4.507 per gallon, according to the American Automobile Association (AAA). This is slightly less than the previous day and week but significantly higher than late February, before joint strikes on Iran by the U.S. and Israel triggered a conflict in the Middle East.

California reports the highest gas prices, with a gallon costing an average of $6.12. Hawaii and Washington approach this level at $5.64 and $5.77, respectively. Mississippi maintains the lowest prices at $3.97 per gallon, up from $3.69 a month ago and $2.65 a year ago.

Impact on American Drivers

Middle Eastern oil production disruptions, especially in the Strait of Hormuz, have caused global oil and gas price increases. These price hikes reversed earlier declines applauded by the White House in January, when prices dropped to historic lows.

Patrick De Haan, of GasBuddy, noted that pre-conflict forecasts expected prices between $2.99 and $3.23 per gallon. However, current averages stand at $4.547, with prices likely staying high until the Strait reopens. GasBuddy estimates reveal Americans will spend $2 billion more on gasoline during Memorial Day weekend compared to last year, roughly $22 million more every hour.

According to AAA, around 45 million Americans plan to travel at least 50 miles from home, slightly more than the previous year. About 39.1 million will travel by car. This year’s gas price is over a dollar higher than last Memorial Day, marking the highest since summer 2022.

Rising gas prices have pressured the Trump administration, with approval ratings falling to their lowest. A Reuters/Ipsos poll shows only 35 percent of Americans support President Trump’s job performance.

Potential Relief Ahead

Despite reaching high levels, gas prices showed a slight decline on Monday. This could be due to optimism regarding a potential U.S.-Iran deal to fully reopen the Strait of Hormuz, as an unnamed senior U.S. official indicated to Reuters.

Details and timelines for reopening the strait remain unclear. President Trump stated on Truth Social that the deal is still under negotiation but remains confident in reaching a favorable agreement.

De Haan cautioned that significant and sustained price decreases require evidence of an agreement and safe passage through the Strait. He noted prices would significantly drop only with concrete progress and restored confidence.