Memorial Day Travel Costs Surge with Rising Gas Prices

Memorial Day travel projected higher costs for American travelers, driven by increasing gas prices nationwide. According to recent American Automobile Association (AAA) data, the average gas price on Monday was $4.507 per gallon. This marks a slight drop from the previous day’s $4.515 per gallon, yet remains a significant increase from late February prices—higher by approximately $1.50. This spike aligns with joint U.S. and Israeli strikes on Iran, intensifying conflict in the Middle East.

Highs and Lows Across States

California holds the top spot for the highest state average of $6.12 per gallon. However, Hawaii and Washington follow with averages of $5.64 and $5.77, respectively. Every U.S. state has reported gas price increases since the start of the Iran war on February 28. Mississippi offers the lowest state prices at $3.97 per gallon, still a rise from $3.69 a month prior and $2.65 from the previous year.

Impact on American Drivers

The Iran war severely disrupted Middle Eastern oil production and supply, notably closing the Strait of Hormuz. Crude oil prices rose worldwide, inflating gas costs. Earlier White House endorsements in January praised falling gas prices as “big wins.” In contrast, current averages stand at $4.547 per gallon, confounding GasBuddy’s December prediction of $2.99-$3.23 per gallon. This escalation persists until the Strait reopens.

Since the Iran conflict began, drivers faced steep costs. Travelers for Memorial Day face marked increases at the pump, with GasBuddy estimating an extra $2 billion spent on gasoline over the weekend, equating to $22 million more per hour compared to last year.

Memorial Day Travel Statistics

The AAA estimated up to 45 million Americans traveled 50 miles or more over the Memorial Weekend, slightly higher than last year’s 44.8 million. Of these, 39.1 million expected to travel by car despite the national average gas price surpassing last year’s $3.17, the highest since summer 2022. These costs have pressured the Trump administration as approval ratings fall. A Reuters/Ipsos poll recorded only 35% approval for Trump’s performance.

Prospects for Price Reduction

Despite traditionally high levels, gas prices saw a slight decrease on Monday. Reports suggest a tentative U.S.-Iran deal to reopen the Strait of Hormuz could influence this decline. An unnamed U.S. official hinted at such a development to Reuters, though full details and timelines remain unclear. President Trump mentioned on Truth Social that negotiations are ongoing, promising a “good and proper” deal.

Patrick De Haan from GasBuddy advises caution amid these changes. He mentioned that without signed agreements and visible ship movement through the Strait, national prices will likely stay above $4 per gallon. Only confirmed strides in geopolitics may significantly reduce costs.