Memorial Day Gasoline Prices Are At An All-Time High

Inflation-adjusted—or real—gasoline prices in the United States heading to the Memorial Day weekend are at their highest in a decade, at a national average of $4.59 per gallon, the Energy Information Administration said on Friday. On a nominal basis, this price is the all-time high price for gasoline recorded in EIA’s weekly Gasoline and Diesel Fuel Update, which dates back to 1990. High crude oil prices, the effect of the Russian invasion of Ukraine on the crude and fuel markets, and U.S. gasoline demand exceeding refinery runs…