Get ready for sticker shock at the gas station if you’re one of the estimated 36 million Americans hitting the roads this Memorial Day weekend.
Gone are the days of $2-a-gallon gasoline. A spike in crude oil prices has lifted the national average price of gas by 31% over the past year to an average of $2.97 a gallon, according to AAA.
Prices at the pump haven’t been this high heading into the biggest driving holiday of the year since 2014, when crude was sitting in triple-digit territory.
“WIthout a doubt people are noticing and they’re feeling the pinch,” said Patrick DeHaan, head of petroleum analysis at GasBuddy, a platform that helps drivers find real-time prices.
AAA says that fifteen states, including New York, New Jersey and Illinois, are already facing $3 average gas prices or higher. Gas in California and Hawaii, traditionally two of the priciest states, is north of $3.70 a gallon.
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