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Published on May 23rd, 2015 | by PEM


Memorial Day Weekend Gas Prices at Lowest Point Since 2009

The average retail gas price on May 18 was nearly a dollar lower than on the same day last year

Consumer gas prices are at a lower point heading into this Memorial Day weekend than any comparable weekend since 2009, according to a government report.

The average retail gas price was $2.74 per gallon on May 18, nearly a dollar lower than on the same day last year, the U.S. Energy Information Agency (EIA) reported. Gas prices vary across the country, from highs of above $3.4o throughout California and in parts of Alaska to below $2.50 throughout much of the South and Midwest.

Read More: The Cost of Cheap Gas

Cheap consumer gas has been driven by low crude oil prices, though have prices have risen in the last few months. The EIA predicted that gas prices will fall in June as refineries across the country increase production. Retail gasoline prices is expected to average $2.51 per gallon during the third quarter of 2015.

Memorial Day, when many Americans take road trips, marks the approximate start of the summer driving season when gas prices often increase. The increase is at least in part due to oil companies complying with requirements that they produce a more expensive summer-grade gasoline.

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