Summer starts with unusual low gas prices

On Memorial Day, The national average gas price sat at $2.32 per gallon, the lowest Memorial Day average since 2005. This year, unusually low gas prices are accompanying the unofficial start of summer.

Prices at the pump rose 2 cents a gallon over the past week, averaging $2.36. According to both AAA and GasBuddy.com, such low prices could be a precursor to the lowest summer gas prices in over a decade.

“Every single state in the nation is seeing lower gasoline and diesel prices than where we started summer last year,” GasBuddy senior petroleum analyst Patrick DeHaan wrote in his weekly fuel update. “Going forward, much of the country will spend much of the summer in the twos for both gasoline and diesel.”

According to AAA, the average summer gas price was $2.71 per gallon nationwide in last year and $2.30 per gallon nationwide in 2005. AAA also expects a less expensive summer for Americans at the pump, with prices expected to peak in mid-June if they continue to follow last year’s pattern.

 “Unless oil prices suddenly surge, motorists should find the lowest summer gas prices since 2005,” AAA noted in its gas-price briefing.

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