Gas Prices Down 11% Since Last Memorial Day
Average cost of $3.18 is cheapest since 2020
Gas prices have dropped significantly since last Memorial Day, offering relief to drivers and fueling a surge in holiday travel.
According to the U.S. Energy Information Administration (EIA), the national average price for regular gasoline on May 19, 2025, was $3.17 per gallon, an 11% decrease from the $3.58 per gallon on May 20, 2024.
AAA reports that the current national average is approximately $3.18 per gallon, down from $3.60 a year ago—and the cheapest since 2020.
This decline is attributed to a 20% drop in crude oil prices and a 15% decrease in motor-fuel futures over the past year.
The lower gas prices have contributed to a projected record-breaking Memorial Day travel weekend, with AAA estimating that 45.1 million Americans will travel at least 50 miles from home, including 39.4 million by car.
Looking ahead, GasBuddy forecasts that gas prices may average $3.02 per gallon over the summer, with potential dips below $3 per gallon, especially later in the season.
While the decrease in gas prices offers short-term relief, experts caution that broader economic factors, such as inflation and global economic growth, may influence future fuel costs.
Nonetheless, the current drop in gas prices provides a welcome respite for consumers as the summer travel season begins.
