As Memorial Day weekend looms, drivers in Arizona are being greeted with an unexpected gift at the pump, with gas prices hitting a remarkably low point not seen in years. FOX 10 Phoenix reports that average prices in Phoenix have fallen to $3.61, the cheapest since 2021 for the holiday period. Not to be outshined, Circle K is slashing prices further, offering a substantial discount of 40 cents off per gallon at select locations in the state.
Despite California witnessing a modest decline in gas prices, they remain on the higher end at an average of $4.87 per gallon, a notable reduction from last week's $4.92. "Gas prices haven’t been this low over Memorial Day since 2021 when the national average was $3.04," Doug Johnson of AAA Mountain West Group told the Daily Republic, attributing the decrease to a current overabundance of crude oil supply over demand. Meanwhile, according to the same source, Mississippi enjoys the distinction of having the nation's lowest gasoline market at a mere $2.66 per gallon.
The lower fuel prices are likely to impact travel plans positively. FOX 10 Phoenix estimates nearly one million people will be driving in Arizona alone over the weekend, signifying that despite prices, the desire for holiday travel persists. Julian Parades of AAA reinforced this sentiment in an interview with the station, revealing a surge in demand for vacations, cruises, and international flights.
The downward trend in gas prices isn't mirrored across all states, with California leading the nation's most expensive gasoline markets, followed closely by Hawaii at $4.49, and Washington state at $4.38. Conversely, the national average per kilowatt-hour at public EV charging stations holds steady at 36 cents, reported the Daily Republic. While, Alaska claims the highest cost for public charging per kilowatt hour nationally, ranked at an expensive 51 cents.
With gas price specialists like Patrick de Haan of Gas Buddy predicting a gallon of gas to average $3.08 this holiday season, the reported analysis suggests Memorial Day could mark the peak of summer gas prices. "I'm hopeful that Memorial Day will be the most expensive summer holiday and that prices could be progressively lower for the Fourth of July and at their lowest level on Labor Day," de Haan asserted. As holiday goers fill their tanks and plan their routes, it seems this summer might offer a somewhat lighter load on their wallets after all.
