Memorial Day holiday travelers will pay prices at the pump that are the highest in four years with the prolonged fuel supply shortage caused by the closure of the Strait of Hormuz, according to numbers reported by the American Automobile Association (AAA) on May 21.
The national average for a gallon of regular gas reached $4.55 May 22, about $1.36 more than the same day last year, and close to what drivers paid four years ago on Memorial Day when the average was $4.61, according to AAA.
“With gasoline demand on the rise and the prolonged closure of the Strait of Hormuz, pump prices are likely to remain elevated as the summer travel season gets underway,” AAA stated….