Fuel prices remained flat in the first week of June, even as crude oil prices reached a 2-year high and motorists hit the road in increasing numbers as the coronavirus ebbs across the United States.
The average price of a gallon of regular gasoline was $3.047 Friday morning, according to AAA. That’s nearly the same as a week ago ($3.044) when Memorial Day weekend travel increased 60% over 2020 and an estimated 37 million Americans traveled in some manner, AAA says.
One month ago, regular fuel was $2.91, and a year ago it was (hard to believe) $1.99.
Diesel fuel held steady this week at $3.19 a gallon, up 10 cents from a month ago and 78 cents from 2020.
Crude oil reached $72 a barrel for the first time since 2019, Reuters reports, and US inventories dipped more than expected.
AAA expects gasoline prices to continue to move as June rolls on. The increasing demand and decreasing supply, combined with higher crude oil prices, mean gas prices “are likely to fluctuate throughout June,” said Jeanette McGee, AAA spokesperson. “We could see some decreases early in the month and increases mid-month as the school year ends and summer travel increases.”