Memorial Day weekend travel: Gas prices increasing across multiple states
GasBuddy analyst says gas prices appear to be higher in Indiana, Ohio, Michigan
Drivers across an increasing number of states are facing higher prices at the pump, according to new data.
On Wednesday, GasBuddy analyst Patrick De Haan. tweeted that gas prices have appeared to increase across areas of the Midwest. which could prompt concern among tens of millions of travelers heading into a major three-day travel weekend.
CLICK HERE TO READ MORE ON FOX BUSINESS
Prices already appeared to be rising to $2.99 per gallon in some parts of Indiana. Meanwhile, in the northwestern part of the state, prices appeared to rise to upward of $3.19, De Haan tweeted.
In areas of Ohio, prices appeared to have risen to $2.99 per gallon, according to De Haan. About an hour later, he cautioned that prices also appeared to be rising to $3.09 per gallon in areas of Michigan.
De Haan said motorists are facing the highest gas prices in years due to the recent increase in demand for fuel, which has "come roaring back" since the ransomware attack on the vital Colonial Pipeline skewed supply and demand earlier this month.
"Memorial Day #gasprices are indeed at their highest since 2014, " DeHaan tweeted.
Likewise, AAA had also cautioned that motorists would face the most expensive Memorial Day weekend gas prices in seven years.
Although the national average has "stabilized following the Colonial Pipeline cyberattack," AAA warned that "pump prices are likely to fluctuate leading up to the holiday weekend."
GET FOX BUSINESS ON THE GO BY CLICKING HERE
It's an unpleasant reality for the tens of millions of people who are expected to travel over Memorial Day weekend spanning May 27-31.
AAA projected that more than 37 million people will travel at least 50 miles over the weekend, a 60% increase from 2020. The packed roadways will not only affect how fast drivers reach their intended destinations but it will also impact prices across the board.
"With the increase in travel demand, gas prices are going to be expensive no matter where you fill up, so plan ahead," AAA spokesperson Jeanette McGee said.
However, McGee noted that some areas will be affected more than others.
"Holiday road trippers may come across some gas stations with low fuel supply in popular travel destinations, like beaches, mountains or national parks," she said. "However, markets are not expected to be fuel-less, like we saw in the wake of the pipeline shutdown."
MEMORIAL DAY WEEKEND TRAVELERS COULD FACE DELAYS
The disruption to the Colonial Pipeline system earlier this month, which stretches from Texas to New Jersey and delivers about 45% of the gasoline consumed on the East Coast, left thousands of stations across a dozen states and Washington, D.C., drained of supplies.
FOX Business' Talia Kaplan contributed to this report.