Gasoline prices will be at the lowest level since March as U.S. drivers take to the highways this Memorial Day weekend, the traditional start of the summer driving season in the world’s largest energy-consuming country.
Pump prices have dropped for three weeks to an average $2.749 a gallon for regular gasoline, as of May 26, as crude oil prices collapsed, according to AAA, the nation’s biggest motoring organization. Consumers will be paying 12 percent more than a year ago, though prices are 30 percent less than in 2008, the year crude oil rose to a record $147 a barrel.
About 28 million people will be on road trips during the holiday, a jump of 5.8 percent from a year earlier and the first increase since 2005, according to AAA, which calculates the period over five days, from yesterday through Monday.
“We look forward to this weekend,” said Bill Compitello, senior director of petroleum supply at Wawa, Pennsylvania-based Wawa Inc., a gasoline retailer with 272 outlets in five states from New Jersey to Virginia. “The last few seasons people have been staying closer to home.”
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Cheapest Gasoline Since March Greets U.S. Memorial Day Drivers
Gasoline prices will be at the lowest level since March as U.S. drivers take to the highways this Memorial Day weekend, the traditional start of the summer driving season in the world’s largest energy-consuming country.
Pump prices have dropped for three weeks to an average $2.749 a gallon for regular gasoline, as of May 26, as crude oil prices collapsed, according to AAA, the nation’s biggest motoring organization. Consumers will be paying 12 percent more than a year ago, though prices are 30 percent less than in 2008, the year crude oil rose to a record $147 a barrel.
About 28 million people will be on road trips during the holiday, a jump of 5.8 percent from a year earlier and the first increase since 2005, according to AAA, which calculates the period over five days, from yesterday through Monday.
“We look forward to this weekend,” said Bill Compitello, senior director of petroleum supply at Wawa, Pennsylvania-based Wawa Inc., a gasoline retailer with 272 outlets in five states from New Jersey to Virginia. “The last few seasons people have been staying closer to home.”
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