Americans celebrating Memorial Day by hitting the road will likely be paying the cheapest gas prices since 2003.
GasBuddy, a fuel savings platform, said Tuesday that it forecasts the national average price of gasoline to be $3.08 per gallon on Memorial Day. That would make it the cheapest since 2021 in nominal terms. After adjusting for inflation, it would be the lowest since 2003.
This is not expected to be short-lived. Prices of gasoline are expected to average around $3.02 per gallon between Memorial Day and Labor Day, with prices falling below three dollars on some days.
That’s likely to bring cheer to the 69 percent of Americans who plan on taking a road trip this summer.
“American road trip culture remains resilient,” GasBuddy said in a news release announcing their 2025 Summer Travel Survey.
Last summer, the national average price of gasoline was $3.58 per gallon on Memorial Day. This year’s lower price reflects increased oil production that has lowered crude oil prices. A barrel of Brent Crude, the global standard for oil prices, is currently priced at $65.07, down significantly from the $83.71 a year ago.
GasBuddy’s calculation that this year will see the lowest Memorial Day gasoline prices since 2003 excludes 2020, when gasoline and oil prices went into free fall thanks to pandemic measures that discouraged travel.
The low price of gasoline is a major political coup for President Donald Trump. On the campaign trail last year, Trump repeatedly said that a Trump administration would lower energy prices and lower gasoline prices. Democrats, including Cory Booker, attacked Trump for promising to bring down energy prices. Booker described Trump’s promise with profanity that can be paraphrased as false excrement.
Trump, however, gets the laugh last on this as Americans get cheaper gasoline in time for the summer road trip season.