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