Gasoline demand reaches new high as more travelers hit the road

(FOXBusiness) – U.S. gasoline demand has jumped to its highest level since summer 2019, according to new data. 

On Sunday, demand jumped nearly 7% compared to a week ago, GasBuddy analyst Patrick De Haan tweeted. 

Additionally, demand surged 9.6% above the average of the last four Sundays, De Haan said.   

Heading into Memorial Day weekend, prices were surging above $3 per gallon for the first time in seven years.    

Prices, which are the highest for Memorial Day Weekend since 2014, were $1.08 more expensive than a year ago, when demand was depressed due to COVID-19.  

“While prices have increased from the lows last year—as demand drastically dipped—prices at just about $3 per gallon are still well in-line with what they’ve been in recent decades,” White House press secretary Jen Psaki said in a statement.  

As of May 31, the average price of gas nationwide was about $3.04 per gallon, according to AAAClick here to read the source article AAA

How much higher will gas prices go this summer? What is the impact on gas prices to consumer spending in other areas?

*Click on the “Full Loaf” icon to read the full article! After you read the article come back and tell us your thoughts.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.