Consumers may see just a bit of a break in gas prices this Memorial Weekend as a small break in gas prices comes after a streak of 12 days of record highs.
32 million drivers are estimated to hit the road this weekend for the traditional start of summer. Drivers may not notice much of a difference, though. The AAA survey shows that the price of gas is only down by 0.2 cents. The average is $3.255. So for the person buying 20 gallons of gas, they will save only 4 cents at the pump, according to CNN.com .
But it is the first time that the AAA survey hasn’t shown a record high. AAA survey’s 85,000 gas stations nationwide, and the national average has been above three dollars since May 4th.
The number of people expected to be driving this weekend is still large. According to AAA, 38.3 million are expected to travel 100 miles or more, even with the high gas prices, which is up 1.7 percent from last year.
But in 21 states, consumers will still be seeing the prices at the pump rising instead of dropping. The Midwest has had the sharpest increase this week. Ohio, Michigan, Indiana, and Illinois have all seen prices rise by a penny or more, according to CNN.com . The biggest jump was seen in Ohio by Friday’s reading. They are enduring a 3.6 cent per gallon increase, which is a 17 cent a gallon jump since Tuesday. Michigan is now the state with the most expensive gasoline in the Friday reading. Their average price reached $3.532 a gallon, up from $3.508.
In the Western states, such as Washington and Oregon, prices declined by nearly a penny.
In different areas of the country, there are regulations to comply with for different formulations of gas in the effort to control smog, according to CNN.com .It can cause spikes in prices as the refineries slow the making of a specific blend to make way for the summer formula. Unplanned shutdowns can also cause a fluctuation in prices, such as fires, power outages, and long maintenance periods.
New Jersey is so far the only state with an average gas price thats below the $3 mark. For the fourth straight day they are under that average, but are creeping toward higher prices. The average has gone from $2.964 from $2.957 this week.
New Jersey and Oregon are the only two states in the nation that is required to be full service at every pump. The state gas tax in these states are typically 7 cents less than the national average.
The biggest drop seen was a 2.7 cent decline in Minnesota.
The last time the US saw such high prices was back in September, when gas was at $3.057 between the 4th and 5th, in the wake of Hurricane Katrina,according to CNN.com .
The current prices is the longest streak with gas prices above $3 a gallon.
originally reported By Chris Isidore, CNNMoney.com senior writer, “Gas prices finally retreat”