Gas Prices Surge for Memorial Day Weekend

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Prices of gas have soared in the U.S. with some areas hit worse than others. The sharpest spikes in price have been in the Midwest. Over the last month, the average price for a gallon of gas in the state of Michigan has increased 32 cents, more than in any other U.S. state.

Its average statewide recently reached $3.15, according to data from an online platform that has real-time tracking of gas prices known as GasBuddy.

North Dakota has gas at an average price of $2.96 statewide, which is approximately 29 cents per gallon higher than 30 days ago. Wisconsin gas reached an average of $2.94 a gallon equal to an increase of 28 cents the last month, with Wyoming and Minnesota rounding out the top five.

The average prices per gallon nationwide for regular is inching up toward the $3.00 mark, which makes the current Memorial Day weekend the most expensive since 2014.

Soaring prices of gas are due to several factors, such as cuts in oil production by OPEC, Russia and other non-OPEC oil producers, and the U.S. decision to leave the nuclear deal with Iran.

All that might seem distant to this weekend’s vacationers that have been preparing to kick off the not so official start to the summer season.

California and other places along the West Coast tend to have the most expensive gas. The geography, regulation for clean air and high demand contribute to prices of gas per gallon. People living in some places on the West Coast, such as in San Francisco are seeing gas prices close to $4 a gallon.

Prices of gasoline have not been as high at this time since 2014 when the price of crude was over $100 per barrel.

The cities in the U.S. that have seen the biggest spike in prices of gasoline are in the Midwest. Toledo, Ohio has seen gas spike by 41 cents per game and in nearby Monroe, Michigan the price of gas has surged by 40 cents per gallon.

An analyst in the oil industry says that bad timing is one of the problems this weekend across the Midwest.

Prices of run through cycles of highs then lows and it happens to be a cycle that the low end of the prices hit about a month ago, therefore the recent spike in prices seems to be more pronounced.

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