Millions of Americans hit the road over Memorial Day weekend, with record-high gas prices pinching their wallets.
The national average price for a gallon of regular unleaded gas hit $4.62 as of Monday, according to AAA, $1.58 higher than a year earlier and about 12% above the pre-2022 high of $4.11 set in 2008. Prices have risen about 11% over the past month, the organization’s figures indicated, and gas was recently above $4 in all 50 states.
The records at the pump come as Americans are contending with four-decade highs in inflation, paying more for everyday purchases including bread and milk. Analysts said gasoline prices so far haven’t changed many motorists’ summer travel plans, in part because of pent-up demand for travel after Covid 19-related restrictions.
