Ahead of the Memorial Day weekend, gas prices are at a four-year high, averaging $4.55 per gallon Friday. File Photo by John Angelillo/UPI | License Photo
May 22 (UPI) -- Gas prices in the United States were at a four-year high Friday, and those traveling for Memorial Day weekend should expect a blow to their wallets.
The average gas price Friday was $4.55, AAA said, which is more than 50% higher than it was on Feb. 28, before the war with Iran began. It's the highest price for the holiday weekend since 2022 after Russia invaded Ukraine, CNBC reported. It's also the highest overall since July 2022.
California has the highest average price at $6.13, and Mississippi has the lowest at $4.01, AA said.
If the Strait of Hormuz, now blocked by the war, doesn't open soon, average prices could rise to $5 in June, Patrick De Haan, head of petroleum analysis at GasBuddy, told CNBC. But even if it does, prices aren't likely to fully normalize until 2027.
