Americans are expected to spend about $4.7 billion on gas over Memorial Day weekend – CNBC
Americans are expected to spend roughly $4.7 billion on gas during the Friday through Monday of Memorial Day weekend, according to GasBuddy, an app and website focused on finding real-time fuel prices.
That breaks down to about $1.18 billion spent on gas each day, give or take $1 million, Patrick De Haan, head of petroleum analysis at GasBuddy, tells CNBC Make It.
“Gas prices have been increasing for months due to the continued rise in gasoline demand as a myriad of destinations reopen ahead of the summer driving season. The Colonial Pipeline shutdown only highlighted how much more reliant consumers have become on gasoline since the pandemic hit,” De Haan says.
Gas prices should start to ease up after Memorial Day, but De Haan warns that a rebound may happen and gasoline prices could rise again around the middle of summer.
If you are planning a road trip this summer, here are a few tips to help you save at the pump.
1. Compare prices
Whether it’s through GasBuddy or other driving apps that show local gas costs, such as the AAA Mobile app or Waze, it’s worth looking around for the best price. A small difference can add up.
You should also be aware that fuel prices can fluctuate by location. AAA recommends getting gas before you arrive at your destination because many popular beach and vacation locations tend to have more expensive gas prices.
2. Make sure your car maintenance is up-to-date
3. Drive calmly
Being a zen driver can not only reduce your stress, but it may also help you save on gas. That’s because driving aggressively with lots of lane-changing, braking and rapid acceleration can increase fuel consumption by 30% on the highway.