Gas prices heading into Memorial Day weekend expected to be the most expensive since 2014

Local News

(WFRV) – With 57% of Americans vaccinated, many are looking to take that summer vacation they had to cancel last year due to the pandemic, but gas prices won’t be in anyone’s favor.

According to GasBuddy, the national average for a gallon of gas is expected to be $2.98 on Memorial Day, while it’s a slight drop in current prices, it’s a $1.02 increase from the holiday weekend last year. This year will also be the highest it’s been on Memorial Day since 2014 when gas prices averaged $3.66.

The increase in prices is largely due to the closure of the Colonial Pipeline around May 8 when a cyberattack shut down their operations. The pipeline delivers gas to 45% of the East Coast and southern states saw long lines the pumps as consumers began panic buying. The pipeline has since restarted but officials with the company say it could take several days to recover from the shutdown.

Here in Northeast Wisconsin, gas prices are averaging between $2.69 and $2.88. According to a survey, 46% of Americans say that the high gas prices are impacting their decision to travel but 53% also say that gas prices are irrelevant.

However, even with an increasing number of Americans getting vaccinated, COVID-19 is still impacting summer travel plans according to a GasBuddy survey. Nearly 50% of responders are taking fewer road trips and not booking trips that require flying.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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