Low Gas Prices May Influence Travel | Big Horn Basin Media

Gas Prices Low This Memorial Day Weekend

Written by on May 25, 2017

Gas prices may be a driving factor in the record number of Americans planning to hit the road this summer.
According to the annual Summer Travel Study conducted by GasBuddy, more than 82 percent of people surveyed said they will take a road trip this summer. That’s a 7-percent increase from last year and a 9-percent increase compared to 2015 – and 70 percent are planning to take at least two trips.
For motorists hitting the road, gas prices this Memorial Day will be their second cheapest in the last decade at $2.39 per gallon, substantially lower than the ten-year average of $3.15 per gallon. However, heading into the weekend, gas prices are increasing for the first time in four weeks. And the rise in road travel could pressure pump prices to increase even more in the months ahead, potentially returning to the higher national averages seen last month.

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