According to AAA, the average price of a gallon of gas nationwide sits at $3.044 this morning. That’s a fraction of a cent higher than during the fuel pipeline shutdown that caused a price spike just two weeks ago. It’s the highest average price AAA has reported in seven years.
High Prices More Widespread
During the pipeline crisis, price spikes were strongest in the Southeast. This time, peaks don’t appear concentrated in any one area. Gas price tracker GasBuddy reports prices at or near $3 per gallon in Ohio, Indiana, and other Midwestern states. Prices also hover around $3 per gallon in much of the Northeast and the West Coast.
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California typically has America’s most expensive gasoline. AAA reports an average price of $4.18 at California pumps.
Lots of Travelers This Weekend
The likely culprit? The rush of Memorial Day weekend travelers is returning to normal this year. And it comes during a shortage of tanker truck drivers. That leaves the country with plenty of gas but limited ability to move it to where it’s needed.
About half of American adults are vaccinated against COVID-19, and they’re set to hit the road. AAA estimates that 37 million people will drive more than 50 miles this holiday. That’s a 60% increase from last year’s lockdown total.
“With the increase in travel demand, gas prices are going to be expensive no matter where you fill up, so plan ahead,” said AAA spokesperson Jeanette McGee.
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Not a Lot of Tanker Trucks Moving
But the herd of drivers isn’t the only problem.
National Tank Truck Carriers, the trade group for the tanker truck industry, reports that about a quarter of the nation’s fleet of gasoline-carrying trucks sits idle this weekend for lack of drivers.
Panic Buying Could Make it Worse
That’s a manageable problem, as long as Americans refrain from panic buying gasoline like they did two weeks ago.
“I think we have to worry about prices, supply and crowd behavior,” Tom Kloza, global head of energy analysis for the Oil Price Information Service, told CNN. “I think the propensity for panic among the population is much, much higher than it has been.”
