Gas prices 50 cents more than this time a year ago, AAA says

15 May, 2018, 03:36 | Author: Arnold Perez
  • Gas prices 50 cents more than this time last year, AAA says

The New Jersey-based Oil Price Information Service earlier this year forecast that Americans would spend $955.6 million per day on fuel in 2018, or $348.8 trillion for the year - the highest since 2014.

"Higher gas prices will not be enough to keep travelers home this Memorial Day weekend", Vicky Evans, AAA's assistant vice president for travel sales development, said.

If you're one of the 36.6 million Americans predicted to hit the road this Memorial Day weekend, watch out for Thursday, May 24 and Friday, May 25. Based on the AAA Leisure Travel Index, airfares are 7% lower this Memorial Day weekend than they were past year.

Due to commuters ending their workday and sharing the roads with holiday travelers, AAA predicts that drivers in the metro Atlanta area will experience delays 1.6 times the usual.

Gasoline also will be its most expensive in years, but that won't be enough to slowing the traveling. Travel by bus, rails and water is expected to increase by almost 2.5 percent to more than 53,000 passengers. In addition, refiners input less crude oil into their refineries, operating at an average of 90.4% of capacity with gasoline production slipping to 9.9 million barrels a day, just slightly higher than the 9.78 million barrels of implied gasoline demand per day. The average price per gallon has risen nearly 12 cents, making the new average $2.89/gallon.

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Gas prices this Memorial Day will be at their highest since 2014. AAA is advising drivers to take precautions as a result to make sure they don't get stranded.

Before hitting the road, motorists can get road-trip ready by having their vehicle battery tested, checking tire condition, and ensuring their auto is up-to-date on routine maintenance.

Be sure to have your mobile phone charged and pack a flashlight with extra batteries, a first-aid kit, basic tool kit, bottled water and snacks.

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