Gas prices near historic highs as Memorial Day travelers prepare to hit the road

The surge in travel demand comes despite a sharp rise in fuel costs across the country. National average gas prices are hovering around $4.50 per gallon, marking the highest Memorial Day fuel prices since the summer of 2022.

Industry analysts say the spike is being fueled by ongoing instability in global energy markets, particularly disruptions tied to conflict in the Middle East and concerns over oil supply routes. Rising crude oil prices have pushed fuel costs upward just as the summer travel season begins.