Gas Prices Have Stabilized Ahead of Memorial Day Weekend
Gas prices at a Chevron station in Menlo Park, California on May 25.Photo: Justin Sullivan (Getty Images)
Good morning, guys. For the first time in a long time, I come to you with semi-good news. We didn’t set a new record for gas prices today. Instead, the average price of a gallon of gas went down $0.001. Will you be able to tell a difference at the pump? Absolutely not. For all intents and purposes the price is still $4.60, according to AAA. It’s been at that same number since Monday.
It’s similar stories for mid-grade premium and diesel. All three prices have pretty much stabilized at this point, and there is a good reason for that: people are being scared away from gas stations because of the high prices. The organization says gasoline demand has dipped from 9 million barrels a day to 8.8 million, AAA reports. That’s 700,000 barrels per day lower than the same time last year.
The softening of gas demand has helped minimize price increases ahead of Memorial Day. However, gas demand may spike this weekend, as American drivers take to the roads for the holiday. If demand slows again following the holiday weekend, pump price increases could be limited as crude prices remain volatile.
All that being said, not every state has been as lucky when it comes to stabilized gas prices. Ten states have seen increases of at least 6 cents per gallon. Leading the way is Iowa (+10 cents), Idaho (+9 cents) and Colorado (+9 cents).
Some other shitty news? There’s nowhere in the country where gas is below an average of $4.11 per gallon.
Let’s take a look at gas prices across the country.
Here is the highest average gas prices in the country in order of highest price for a gallon regular:
California – $6.08 Regular | $6.27 Mid | $6.41 Premium | $6.58 DieselHawaii – $5.43 Regular | $5.61 Mid | $5.86 Premium | $5.90 DieselNevada – $5.24 Regular | $5.47 Mid | $5.66 Premium | $5.56 DieselWashington – $5.22 Regular | $5.42 Mid | $5.61 Premium | $5.77 DieselAlaska – $5.20 Regular | $5.38 Mid | $5.60 Premium | $5.31 Diesel
Here is the lowest average price of gasoline in the country in order of lowest price per gallon of regular:
Oklahoma – $4.11 Regular | $4.40 Mid | $4.63 Premium | $5.08 DieselArkansas – $4.11 Regular | $4.42 Mid | $4.74 Premium | $5.18 DieselKansas – $4.12 Regular | $4.37 Mid | $4.65 Premium | $5.11 DieselGeorgia – $4.13 Regular | $4.49 Mid | $4.84 Premium | $5.26 DieselMissouri – $4.17 Regular | $4.47 Mid | $4.74 Premium | $5.12 Diesel
It’s the Friday before a long weekend. Enjoy yourselves, you deserve it.