Gasoline Prices Ahead of Memorial Day Are 1% Higher Than a Year Ago

The average retail price of a gallon of regular gasoline in the United States was $3.58 on the Monday before Memorial Day, which was 1% higher than last year’s pre-Memorial Day gas price, the U.S. Energy Information Administration (EIA) said on Thursday. Over the past five weeks, Middle East tensions have eased, while U.S. refinery activity has increased after the end of seasonal maintenance, contributing to a 2% decline in average retail gasoline prices, the administration noted.   A near-record number of Americans plan road…