Memorial Day weekend gas prices to hit 'maybe I'll stay home' levels

San Diego's average is up 70 cents from 2017
Memorial Day weekend gas prices to hit 'maybe I'll stay home' levels
Posted at 2:21 PM, May 23, 2018
and last updated 2018-05-23 17:27:00-04

SAN DIEGO (KGTV) - If the flood of fellow travelers doesn't keep you close to home this Memorial Day weekend, perhaps the price at the pump will.

Gasoline prices have climbed 12 cents over the past two weeks to bring the national average to about $2.93 per gallon before the Memorial Day weekend. It's the highest since Memorial Day 2014 when the average hit $3.65 a gallon, according to AAA.

In California — one of 14 states above $3 a gallon — drivers will have it the worst in the U.S. with an average of $3.71 a gallon.

GAS PRICE MAP: Find the cheapest gasoline near you and around San Diego

San Diego's local prices mimic the state's trend. A year ago the average for a gallon of gas in the county was about $3.03, compared to about $3.73 a gallon today.

For the week ending on May 11, the Energy Information Administration (EIA) reported gas stocks fell by about 200,000 barrels to 29.7 million barrels.

However, inventory levels are 600,000 stronger than this time last year. Imports increased by 50,000 barrels to 117,000 barrels last week, EIA reports.

RELATED: Memorial Day weekend to see the most travelers in last 12 years

Despite this, gas prices don't look like they'll put a dent in weekend travel.

This year, AAA expects more than 41.5 million travelers to be out for Memorial Day weekend, a five percent jump from last year. Of that, about 36.6 million people will be on the roads.

And drivers may need to fill up more often on top of that. Transportation analytics company INRIX predicts travel delays could be up to three times longer than normal in some areas of the country.

BEFORE YOU HEAD OUT: Check updated San Diego traffic conditions

And as the summer rolls in, gasoline prices may not look back.

"Compared to an average of the last three Memorial Day weekends, pump prices are nearly 50 cents more expensive and climbing," Jeanette Casselano, an AAA spokesperson, said. "Trends are indicating that this summer is likely to bring the national average to at least $3/gallon."