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Home / Business / Gas prices soar on Memorial Day weekend. These places are the hardest hit.

Gas prices soar on Memorial Day weekend. These places are the hardest hit.



  Why are gas prices rising?

Gas prices have skyrocketed, and some regions of the country feel them more than others.

The strongest price increases have hit the Midwest. Over the past month, Michigan's average price per gallon has risen 32 cents, more than any other state. According to data from GasBuddy, a platform that tracks real-time rates at stations across the country, the nationwide average recently reached $ 3.1

5.

Gasoline in North Dakota averages $ 2.96, about 29 cents more than a month ago. And Wisconsin Gas $ 2.94 a gallon, an increase of 28 cents. Wyoming, Minnesota and Ohio complete the top six.

The national average price per gallon regular is slipping toward the $ 3 mark and is the most expensive on a memorial day weekend since 2014, according to the American Automobiles Association.

Rising gas prices can be attributed to factors such as oil price cuts staged by OPEC and Russia, Venezuela reducing production and the United States' decision to end the Iranian nuclear agreement.

Related: Gas prices have risen by 31% since the last day of remembrance. Here's why

All of this seems quite distant for vacationers who hope to start the unofficial start of summer beach relaxation. But if this beach is in California, probably the most expensive pump prices in the country are nearby.

The West Coast typically has the most expensive gas. Geography, high demand and clean air regulations add to the price per gallon. People in some areas, like San Francisco, see prices near $ 4 per gallon.

  Gas Price Remembrance Day
Pump prices have not been that high on Memorial Day weekend since 2014, when crude oil was in the triple digits.

The US cities, which had the steepest price increases at the pump, are also speckled over the Midwest.

In Toledo, Ohio, gas prices have jumped 41 cents, and just over the Monroe, Michigan border, residents have seen an increase of 40 cents.

Monroe City Council member Kelly Vining told CNNMoney she had heard "a lot about gasoline prices" – and for some who are stalling the holiday weekend.

She said she had spoken to a local farmer who had canceled his annual Memorial Day weekend holiday on Michigan's Upper Peninsula "directly because of increased gas prices."

"I represent a neighborhood of the working class and I am concerned about my voters' ability to keep up with the high gas prices, especially when connected to other utilities and insurance companies," Vining said in an e-mail.

Related: Saudi Arabia says OPEC and Russia to pump more oil "in the near future"

Patrick DeHaan, head of oil analysis at GasBuddy, says that it's really a matter of urgency Bad Timings The price hikes seem to be so dramatic in the Midwest.

Gas prices tend to cycle through highs and lows, and just now the stations in the heartland were at the bottom of that price cycle a month ago. So, it makes the recent price increases seem more pronounced.

There is no indication that more expensive gases will have a significant impact on the number of people going on this holiday weekend.

AAA predicts that 36.6 million people will be on the road, about 4.7% more than the weekend of Memorial Day in 2017.

In no single country will there be a decline in the number of motorists expects AAA spokesman.

CNNMoney (New York) First published May 26, 2018: 2:54 pm ET


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