US Driving Season: Low Oil Prices & Travel
US drivers enjoyed a Memorial Day weekend with gasoline prices hitting a four-year low, sparking a surge in travel and demand. This drop, attributed to lower crude oil prices, saw prices at the pump averaging $3.17 per gallon, according to recent reports, which is considerably lower than last year. GasBuddy data shows gasoline consumption increased by 2%, reflecting how consumers responded to the savings at the pump. news Directory 3 tracks these trends, noting that a record 45.1 million Americans traveled over the holiday weekend—a promising start to the US driving season. Yet, the looming hurricane season poses a risk, capable of disrupting refineries and fuel deliveries. Discover what’s next and stay informed about how the unpredictable weather might impact your wallet later this year.
Low Gas Prices Spur Memorial Day Travel
Updated June 03, 2025
Lower gasoline prices fueled a strong start to the summer driving season, with Memorial Day weekend seeing the lowest prices at the pump in four years. Increased demand, spurred by these low prices, marked the holiday weekend.
The Energy Information Management (EIA) reported that on May 19,the average U.S. retail gasoline price was $3.17 per gallon, 11% lower than the previous year. Adjusting for inflation, prices were 14% lower due to falling crude oil prices.
GasBuddy data indicated gasoline consumption rose 2% over Memorial Day weekend compared to last year, as consumers responded to the lower prices. This surge in demand suggests potentially strong profits for U.S.oil refiners.
AAA estimated a record 45.1 million people traveled at least 50 miles from home during the holiday, surpassing the previous record set in 2005.
Supply outpacing demand is contributing to lower pump prices, according to AAA. However, they cautioned that the approaching Atlantic hurricane season could disrupt oil refineries and fuel deliveries, potentially leading to temporary price increases.
“Refineries have a lot of room to run hard,” Patrick De Haan, head of petroleum analysis at gasbuddy, said.
“This spring – thanks to lower crude oil prices – gasoline prices haven’t seen typical seasonal spikes,” AAA said.
“While fuel prices are expected to remain on the lower side compared to last summer, weather is the wild card,” AAA noted.
Commerzbank commodity analyst Barbara lambrecht noted a significant increase in U.S. gasoline demand, reaching almost 9.5 million barrels per day, citing optimism among petrol station operators and AAAS travel predictions.
What’s next
While gasoline prices are currently low, the potential impact of the Atlantic hurricane season remains a key factor to watch. Storms could disrupt refinery operations and fuel deliveries, potentially causing temporary price spikes.