Gas prices are up 31% from last Memorial Day. Here’s why

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Gas prices across all of Mid-Michigan are over $3 per gallon for unleaded gas.

"Typically more than our regular weekend we'll come up aside from the holiday weekend, as well Memorial Day, Fourth of July, it's always hiked up", said Mitch Kujawa.

Prices are only expected to rise as summer and fall arrive.

"Besides the pull of demand on prices in the summer, refiners have to replace cheaper blending components with more expensive ones in order to meet environmental regulations", Judith Dwarkin, chief economist at RS Energy Group, said in an email.

"Memorial Day holiday travel volume in the Washington metro area will be 41 percent higher than it was in the region during 2009, which represented the recession-driven low", Townsend said. Gas prices often hit their high around this time of year and start declining throughout the summer.

In Pitt County, the average price of gasoline is also $2.76/g.

Gas prices are up 31% from last Memorial Day. Here’s why
Gas prices are up 31% from last Memorial Day. Here’s why

The estimated 37 million Americans set to hit the road this Memorial Day weekend will want to pack a few extra dollars in their wallets as gas is reported to be at the highest price point at this time since 2014. At least one gas station in New York City had gas priced at $4.99 per gallon on Tuesday.

You may have already heard the news but if you're traveling over the upcoming Memorial Day weekend, it will be the busiest on record.

"It's really, really frustrating, especially since there's like a lot of disparities between gas prices and location", said Lucas Cliff, who was also filling up his auto Thursday.

"What especially rings true is that with such a big jump in prices, motorists are absolutely becoming more price conscious as they make plans this summer, DeHaan said".

If prices don't calm down, some drivers could decide to stay home rather than pay up at the pump. I think they will go up and are going to be ridiculously high. In June, OPEC is expected to consider increasing oil production.

According to GasBuddy, many Americans plan to cut back on travel and opt for statcations because of the rising prices.

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