Reported 5 months ago
Gas prices are expected to decrease slightly over the Memorial Day weekend as 43.8 million travelers hit the road, with the national average standing at $3.61 per gallon on Friday. Analysts anticipate prices to continue falling due to slipping wholesale gasoline prices influenced by an accumulation of inventory in both crude and gasoline over the last 90 days. Despite the current dip, prices are projected to rise by about $0.10 per gallon over the summer due to decreasing refinery capacity. The Biden administration announced the sale of 1 million barrels of gasoline from the Northeast Gasoline Supply Reserve, with limited impact expected on prices given the US's daily consumption of around 9 million barrels.
Source: YAHOO