WA gas prices hold steady for Memorial Day weekend despite national prices falling
This story was originally posted on MyNorthwest.com
Gas prices have fallen to their lowest levels nationally this Memorial Day weekend since 2021, but Washington won't be able to enjoy the spoils.
The cost of gas hasn't been this low in the U.S. since 2021. As of Friday, the national average gas price is $3.20, according to AAA. Over the past two years, national gas prices averaged around $3.61 for Memorial Day weekend, while 2022 had average gas prices north of $4.50.
'If you adjust for inflation and rising wages, Americans are actually going to spend the least amount filling up this Memorial Day since 2003, excluding COVID,' GasBuddy wrote in a release. 'Prices are forecast to average $3.02 per gallon over the summer from Memorial Day through Labor Day, with a sub-$3 per gallon national average possible on some days, especially toward the latter half of the summer.'
While not increasing, Washington failed to see much of a drop in gas prices statewide. Gas has actually jumped up slightly to $4.40, compared to $4.29 a month ago. Still, gas has fallen year-over-year by 17.9 cents.
Washington only trails California ($4.87) and Hawaii ($4.49) in average gas prices. Oregon ($3.99), Nevada ($3.93), Alaska ($3.64), Illinois ($3.44), Arizona ($3.37), Idaho ($3.32), and Pennsylvania ($3.31) round out the top 10.
Mississippi ($2.66), Louisiana ($2.71), Alabama ($2.74), Tennessee ($2.77), Texas ($2.78), Arkansas ($2.80), South Carolina ($2.81), Oklahoma ($2.81), Kentucky ($2.85), and Missouri ($2.87) are the 10 cheapest states for gas.
Supply and demand are playing a role in this year's lower pump prices as crude oil supply is currently surpassing demand,' AAA stated.
Memorial Day weekend is one of the biggest travel weekends of the year, with AAA expecting nearly 40 million people to travel by car over Memorial Day weekend this year, an increase of 3% compared to last year.
'While we're forecasting the lowest summer gas prices in years, economic jitters are slightly dampening optimism — but we still expect a robust travel season, with millions of Americans hitting the road, many for extended trips,' Patrick De Haan, head of petroleum analysis at GasBuddy, added.
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