Gas prices hold steady to kick off Memorial Day weekend: AAA

Gas prices held steady to officially start the summer holiday driving season, according to the latest AAA report. 

The national average cost for a gallon of gas was $3.61, a slight one-cent increase from the previous week. However, AAA said that gas demand is expected to rise in the run-up to this weekend. A record 38.4 million drivers are expected to kick off the official start to the summer driving season, hitting levels not seen since before the pandemic.

Gas demand rose unexpectedly to 9.31 million barrels per day from 8.87 million barrels per day last week, according to new data from the Energy Information Administration (EIA). Lower oil prices could cause pump prices to remain flat for now, even as demand for gas increases.

“Since the pandemic, the summer driving season has not seen a surge in demand, which can push pump prices higher,” AAA spokesperson Andrew Gross said. “So it will be interesting to see if this year bucks that trend. 

“This week’s move by the Biden Administration to sell off the million barrel Northeast Gasoline Supply Reserve might help stave off any regional pump price surges, but likely won’t move the national average that much,” Gross continued.

If you’re trying to lower your overall auto costs, you could consider switching auto insurance providers. You can visit Credible to compare quotes from different companies without affecting your credit score. 

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Gas in these states is the least expensive

Gas costs for motorists nationwide fluctuated, with some states tallying higher averages than others. These 10 states had the lowest prices:

• Mississippi ($3.06)
• Arkansas ($3.10)
• Oklahoma ($3.12)
• Kansas ($3.13)
• Louisiana ($3.16)
• Texas ($3.17)
• Missouri ($3.20)
• Tennessee ($3.21)
• South Carolina ($3.21)
• Alabama ($3.24)

These 10 states had the most expensive gas:

• California ($5.15)
• Hawaii ($4.78)
• Washington ($4.58)
• Oregon ($4.34)
• Nevada ($4.33)
• Alaska ($4.32)
• Illinois ($4.01)
• Arizona ($3.87)
• Idaho ($3.78)
• Pennsylvania ($3.77)

Shopping for cheaper auto insurance is another way drivers can lower the cost of owning a car.  Visit Credible to find your personalized premium without affecting your credit score.

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More Americans forecasted to hit the road this summer

Roughly 76% of Americans are expected to plan a road trip between Memorial Day and Labor Day weekend this year, up from 18% in 2023, according to a GasBuddy survey. Many Americans have at least two road trips planned and 49% plan to drive five or more hours to reach their destination.

“It looks like it’ll be a busy start to the summer driving season, and while Americans gripe about the cost of gasoline, it doesn’t seem that too many are going to be deterred from hitting the road,” GasBuddy Head of Petroleum Patrick De Haan said. “…Motorists are likely to see more stations lowering prices to $2.99 per gallon or less as the summer wears on, and refiners ramp up output after finishing maintenance.”

If you plan to hit the road this summer, you can lower what you spend on fueling your car by following these tips:

Shop prices before pumping

Forty-six percent of drivers said high gas costs have impacted their itineraries this year. Drivers could save money by planning on where to buy it, according to the survey. Using an app that displays gas prices can help you save 10 to 50 cents per gallon over just a few blocks.

Avoid filling up at state lines

Filling up at stations located at state lines makes a difference, according to GasBuddy. 

“Picking the right side of the line can result in savings or additional spending of 25 cents to $2 per gallon,” the survey said.

Consider how you pay

Some gas stations offer discounts when customers pay with cash. Drivers could also save money by joining loyalty programs to receive promotional savings.

If you are shopping around for new auto insurance, you can use the Credible marketplace to compare multiple providers and find your personalized rate in minutes.

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