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Memorial Day gas prices highest since 2014

Published: May. 26, 2021 at 5:19 AM CDT|Updated: May. 26, 2021 at 5:20 AM CDT
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(CNN) - Celebrating the unofficial start of summer is going to cost more this year if your plans include a road trip.

The national average for the price of gas is just over $3 per gallon. The U.S. hasn’t seen prices this high since 2014. It’s also an increase of more than $1 per gallon from the week preceding Memorial Day last year.

At least some of the price increase is left over the cyberattack on the Colonial Pipeline earlier this month. While that supply pipe is back in full operation, some gas stores in the Southeast aren’t fully stocked yet.

The global price of oil is also up significantly from last year. Oil futures closed at $63.58 at the end of trading Friday. At one point last year, prices entered negative territory as producers struggled to find storage for their excess supplies.

The American Automobile Association expects 37 million Americans will travel on Memorial Day weekend.

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