The Week

Maryland drivers ready to hit the road for the unofficial start of summer may dodge gas price increases this Memorial Day weekend.  Lower oil prices and an increase in gasoline supplies this week have kept prices relatively stable in many areas. The 37.6 million Americans hitting the road for the holiday can expect gas prices to be less expensive than last year. The Maryland statewide average is 20 cents less than Memorial Day 2018.

Maryland’s statewide gas price average Friday is $2.78, which is three cents higher than last week, one cent lower than last month and 19 cents lower than on this date last year. 

Today’s national gas price average is $2.84, which is down a penny in the last week, down two cents in the last month, and is 12 cents less than last year’s price.

CURRENT AND PAST GAS PRICE AVERAGES 

Regular Unleaded Gasoline

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $58.63 per barrel, $4.13 lower than last Friday’s close. Crude suffered its biggest one-day decline ($3.51) this year on Thursday, settling at $57.91 per barrel. Global stock markets were sent lower based on concerns over a slowdown in energy demand associated with the U.S. - China trade dispute. The surprise surge in crude inventories this week was also a contributing factor.

The Weekend

“Local gas prices have remained relatively stable this week, which is good news for those planning to gas up and go for the unofficial start of summer,” says Ragina Cooper Averella, Manager of Public and Government Affairs for AAA Mid-Atlantic. “With road trips expected to increase for the eighth straight Memorial Day weekend among Marylanders, statewide prices at the pump sit about 20-cents per gallon less than this same time last year.”

The Week Ahead

An estimated 918,000 Marylanders plan to schedule a getaway for the Memorial Day weekend, a 3.4% increase over last year, and the highest number of Memorial Day weekend travelers since 2000, when AAA began tracking holiday travel. AAA estimates a record number of Marylanders, 819,000 will drive to their destination, an increase of 3.4% from last year’s holiday.

AAA has a variety of resources to help motorists save on fuel:

• Shell Fuel Rewards Program for AAA Members: (https://www.AAA.com/Shell) gives AAA members nationwide a discount on gasoline at Shell stations when they join the Fuel Rewards® program.

• Fuel Price Finder (https://www.AAA.com/fuelfinder) locates the lowest fuel price in your area. 

• AAA Gas Cost Calculator (https://gasprices.aaa.com/aaa-gas-cost-calculator/) helps budget travel expenses. 

• TripTik Mobile (https://www.aaa.com/mobile) plots fuel prices along your travel route. 

• AAA's Member Rewards Visa® Credit Card (https://www.AAA.com/financial/AAAvisa.htm) accumulates double points on fuel purchases. 

AAA is the most comprehensive resource for gas prices. AAA reports reflect actual prices from credit card transactions at more than 100,000 gas stations in the U.S.

Next Weekend Gas Watch: Friday, May 31, 2019

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AAA provides automotive, travel and insurance services to over 59 million members nationwide and more than 982,000 members in Maryland.  AAA advocates for the safety and mobility of its members and has been committed to outstanding road service for more than 100 years.  The not-for-profit, fully tax-paying member organization works on behalf of motorists, who can now map a route, find local gas prices, discover discounts, book a hotel and track their roadside assistance service with the AAA Mobile app for iPhone, iPad and Android.  For more information, visit AAA.com.