Average US Gasoline Prices Highest Since 2014 - Energy Dept.

WASHINGTON (Pakistan Point News / Sputnik - 28th May, 2021) The average price of gasoline in the United States has reached the highest level since 2014, the Energy Information Administration (EIA) said on Friday.

"The average retail price for regular gasoline in the United States on May 24, the Monday before the Memorial Day weekend, was $3.02 per gallon, the highest gasoline price before Memorial Day since 2014, according to our weekly Gasoline and Diesel Fuel Update," the EIA said.

The EIA noted that the average price of gasoline on May 24 was $1.

14 higher than the same time last year. The increase in the price is attributed to refinery production not keeping pace with the rise in demand for gasoline as the United States eases coronavirus-related restrictive measures.

This high price of fuel comes before Memorial Day weekend, during which time some 34 million people are expected to travel by car. This estimate represents a 52 percent increase from last year, when 23 million people traveled by car for Memorial Day, the fewest since 2000.