Overview

• The national average price for regular gasoline stood at $3.141 per gallon on June 2, the lowest level since 2021.
• Gasoline consumption over Memorial Day weekend rose by 2 percent year-over-year, with AAA reporting 45.1 million people traveled at least 50 miles from home.
• States along the Gulf Coast offered the cheapest pump prices, led by Mississippi at $2.648 per gallon, while California topped the list at $4.775 per gallon.
• A recent $10-a-barrel decline in crude oil prices this spring contributed to lower gasoline costs by easing supply pressures.
• Analysts warn that OPEC+ production changes, geopolitical tensions and the approaching Atlantic hurricane season could disrupt supply and reverse the downward trend.