BOSTON, Mass. – A new survey from GasBuddy.com is predicting the most expensive summer gas prices since 2014 as more and more Americans prepare to hit the road.
According to the survey, the national average price of gasoline is expected to be $2.98 per gallon by Memorial Day, marking the highest price since summer 2014 when prices reached $3.66 per gallon. The anticipated price this year is a more than $1 increase over last year’s holiday weekend.
46 percent of those surveyed stated high gas prices directly impacted their travel plans, while only one percent stated that gas prices were low. 53 percent of respondents said gas prices were irrelevant to their travel plans.
“The numbers are clear: people are itching to travel as the nation recovers from COVID-19 but are frustrated with some of the highest holiday weekend gas prices in quite some time,” said Patrick de Haan, head of petroleum analysis at GasBuddy.
The recent price spike has been mostly attributed to the cyberattack on the Colonial Pipeline that occurred earlier this month.
“The Colonial Pipeline only highlighted how much more reliant consumers have become on gasoline since the pandemic hit,” continued de Haan. “Drivers don’t need to worry too much though, as there is an end in sight. Prices should ease up ahead of the holiday, mainly in areas where the pipeline challenges were most severe.”
GasBuddy is an internationally-recognized travel and navigation app covering more than 150,000+ gas stations in North America. For more information, visit gasbuddy.com.