U.S. gas average hits $4.55 per gallon

AAA said on May 21 that the national average price for a gallon of regular gasoline had reached $4.56 as Memorial Day travel began, the highest level for the holiday weekend in four years. NPR, citing AAA market data published May 22, put the national average at $4.55 a gallon heading into one of the busiest U.S. driving weekends of the year. AAA said 45 million Americans were expected to travel over the holiday period, including more than 39 million by car. CNBC reported on May 22 that analysts were warning tighter oil inventories could push gasoline, diesel and jet fuel prices higher in the coming weeks. ### Why are drivers seeing $4.55 to $4.56 instead of one exact number? AAA’s daily tracker showed a national average of $4.529 on May 23, after reporting $4.56 on May 21 and after NPR cited $4.55 on May 22. Those differences reflect day-to-day movement and rounding across a national retail average that changes as station data updates. (gasprices.aaa.com) AAA said the May 21 figure was up 3 cents from a week earlier and $1.38 above the same time last year. NPR reported the year-over-year increase at about $1.36 on May 22. Both figures point to a sharp rise from last Memorial Day even as the exact daily average shifted by a few cents. (gasprices.aaa.com) ### How unusual is this for Memorial Day weekend? AAA said current prices were close to what drivers paid four years ago, when the national average on Memorial Day was $4.61. CNBC described current prices as the highest levels in nearly four years. Quartz and other outlets echoed that four-year-high framing this week. (gasprices.aaa.com) NPR said high pump prices had not stopped Americans from planning road trips. AAA’s forecast of 39 million-plus car travelers suggests demand for holiday driving remained strong even with fuel costs elevated. ### What are analysts and officials saying is behind the increase? (gasprices.aaa.com) CNBC reported on May 22 that analysts were focused on tightening global oil inventories and warned that gasoline, diesel and jet fuel prices could rise further if those buffers keep shrinking. David Goldwyn, a former U.S. State Department energy envoy cited by CNBC, said inventories were declining fast, leaving only weeks before fuel prices could move higher as stockpiles were drawn down. (vpm.org) NPR said the recent spike in gasoline prices was tied to the U.S. war with Iran, which it said was pushing inflation higher as Americans headed into the holiday weekend. CNBC’s report also linked the run-up in prices to the Iran conflict and concerns around oil supply. (cnbc.com) ### How different are prices from state to state? Louisiana’s statewide average was $4.05 a gallon, according to AAA data cited by WGNO in New Orleans on May 22. That put Louisiana roughly 50 cents below the national average cited by NPR the same day. California remained a flashpoint. (vpm.org) ABC7 reported on May 22 that Governor Gavin Newsom’s office urged Californians to avoid Chevron stations over Memorial Day weekend, saying Chevron’s prices were too high. The Los Angeles Times reported that Chevron blamed California state policies for the state’s fuel costs. (wgno.com) ### Where can drivers check what happens next? AAA updates its national and state fuel averages daily on its fuel-price tracker, which showed a U.S. regular average of $4.529 on May 23. CNBC reported analysts were watching the next four to six weeks for further moves in gasoline, diesel and jet fuel prices as inventories tighten. (gasprices.aaa.com) (abc7.com)