Memorial Day weekend is just around the corner, and Americans will be paying more to get to their summer destinations this year.
WASHINGTON — With less than a week to go until Memorial Day weekend, the average price of gasoline has topped $4 in every U.S. state, leading to higher prices for travelers nearly three months after the U.S. went to war with Iran.
As of Wednesday, the average price of a gallon of gasoline in the United States was about $4.55. That’s not much of a change from the $4.51 average a week ago, but the underlying prices that drive average prices are starting to climb in states where natural gas is cheapest.
Georgia has some of the lowest gas prices in the country, with the state’s average gas price just over $4, at $4.006 per gallon. But the state is one of only 11 with the lowest gas prices, with the average price below $4.21 a gallon, according to AAA.
California, on the other hand, has the highest average gas prices in the country, with a price per gallon in the state of about $6.145.
Natural gas prices have risen slowly but steadily over the past three months since President Donald Trump authorized strikes against Iran on February 28, sparking a conflict.
Diesel prices in the country have also risen sharply over the past few months, averaging $5.652 on Wednesday, about 16 cents below the all-time high average.
The Strait of Hormuz remains closed despite a shaky ceasefire between the Iranian government and the Trump administration. The Strait of Hormuz is a narrow waterway south of Iran through which about a fifth of the world’s oil supplies flow.
Memorial Day will have Americans spending more on the road
AAA predicts that despite rising gas prices, about 45 million Americans will still travel over the Memorial Day weekend.
The organization’s travel forecast shows a slight increase in domestic travel this year, which could set a new Memorial Day weekend record, with 39.1 million people expected to drive and 3.66 million expected to fly.
Americans will likely be at least 50 miles from home between May 21 and 25.
Analysts at fuel-savings platform GasBuddy also predict that travel and travel-related costs will increase next weekend.
“This has been the oil market’s most volatile summer in years, and the closure of the Strait of Hormuz is at the center of it,” Patrick De Haan, director of oil analysis at GasBuddy, said in a statement. “Americans will pay billions more this summer to get to their destinations, and even after the strait reopens, it could take a year or more for natural gas prices to fully recover.”
GasBuddy’s 2026 pre-Memorial Day survey found that 56% of Americans plan to hit the road at some point during the summer, starting with Memorial Day and ending with Labor Day in the fall.
“Cost is now a major travel consideration, with 53% ranking it as their top priority, with 67% saying gas prices have a direct impact on their driving plans and 36% saying rising costs are causing them to take fewer road trips,” the firm’s analysts wrote.
Highest average gas price ever?
The highest average price per gallon of gasoline recorded was set on June 14, 2022, during the early months of Russia’s invasion of Ukraine, when the national average price was just over $5.
Five days later, on June 19, 2022, the average diesel fuel price hit a record high of $5.816 per gallon.
Trump wants to lower gas prices
President Donald Trump said last week he wanted to suspend federal gas taxes Pump prices soar.
Trump told CBS News in a phone interview He wants to suspend the 18.4-cent-per-gallon gas tax and the 24.4-cent-per-gallon diesel tax “for a period of time.”
However, suspending the federal gas tax would require action by Congress.
Back in March, Democratic Senators Mark Kelly and Richard Blumenthal proposed legislative moratorium The federal gas tax is due October 1st.
Following Trump’s comments on Monday, Republican Senator Josh Hawley said He will also introduce legislation to suspend the gas tax.
For every gallon of gasoline sold in the United States, the federal tax is 18.4 cents. According to the U.S. Energy Information Administration. This tax has been in place since 1993.
Most states impose additional taxes on fuel. As of July 2024, the average sales tax per gallon of gasoline is 32.61 cents and diesel is 34.76 cents. Some states have recently suspended or considered suspending taxes to provide relief amid high natural gas prices.
Indiana and Georgia both temporarily eliminated gas taxes to combat the war’s impact on prices.
Earlier this month, Indiana Gov. Mike Braun suspended the state’s 36-cent natural gas excise tax for 30 days. Georgia has not had a gas tax since March after Gov. Brian Kemp suspended the 33-cent excise tax for 60 days.
