Gas Prices Soar on Memorial Day Weekend

Gas prices have soared, and some areas of the country are feeling it more than others.

The sharpest price hikes have hit the Midwest. Over the past month, the average price per gallon of gas in Michigan has shot up 32 cents, more than any other state. Its statewide average recently hit $3.15, according to data from GasBuddy, a platform that tracks real-time prices at stations across the country.

North Dakota’s gas is $2.96 on average, about 29 cents higher than a month ago. And Wisconsin’s gas hit $2.94 per gallon, a 28 cent increase. Wyoming, Minnesota and Ohio round out the top six.

The national average price per gallon of regular is creeping toward the $3 mark, making it the most expensive for a Memorial Day weekend since 2014, according to the American Automobiles Association.

Soaring gas prices can be attributed to factors like oil production cuts orchestrated by OPEC and Russia, Venezuela reducing output, and the United State’s decision to leave the Iran nuclear deal.

All that may seem pretty far removed for vacationers that are hoping to kick off the unofficial start of summer relaxing at the beach. But if that beach is in California, chances are the most expensive pump prices in the country are nearby.

The West Coast typically has the most expensive gas. Geography, high demand and clean air regulations contribute to the price per gallon. Folks in some areas, such as San Francisco, are seeing prices near $4 per gallon.

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Source: CNN Money