Gas prices now 50 cents higher than previous year


According to AAA, 1.9 million New England residents are expected to travel, 1.7 million by vehicle.

Memorial Day marks the unofficial beginning of summer, and more than 41.5 million Americans are expected to travel this Memorial Day weekend, marking a 5 percent increase from last year and the most in almost 12 years. Travelers will also save on AAA Three Diamond hotels, which are trending 14 percent less expensive than a year ago, with an average rate of $186 nightly.

DeHaan said there is now a 65 percent chance that the nationwide average price for fuel at the pump will top $3 a gallon this summer.

For the first time in almost 4 years, gas prices in parts of MI are above $3 a gallon.

Gas prices recently rose again in anticipation of Memorial Day weekend, with the national average gas price standing at $2.87 on Sunday - 53 cents higher than this time past year.

More than 41.5 million Americans will travel 50 miles (80 km) over Memorial Day weekend, the highest travel volume since 2005, when there were some 44 million travelers, according to the AAA, or American Automobile Association. Almost 87 percent of those travelers will be driving.

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Alaska- $3.32/g, up 7.8 cents per gallon from last week's $3.24/g.

Now, with the start of summer driving season just weeks away, the possibility of $3 per gallon gas - something analysts were dismissing as recently as the beginning of this month, is looking like more and more of a certainty.

In nine states, the average price is $3 or more and a few more states are likely to join that list, she said.

Drivers are seeing the prices at the pump continue to go up as Memorial Day weekend gets closer. One of the most important issues to watch: will US allies heed President Trump's warning to curb Iran's oil exports by following USA sanctions?

Another factor that has caused high gas prices has been money which has continued to flow into commodities as bets for higher oil prices rise, according to DeHaan.