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Saleah Blancaflor41m

US gas prices rise again, sitting at their highest levels in four years ahead of Memorial Day weekend

Just days away from Memorial Day weekend, the national average of US gas prices rose from a week earlier and sat at the highest they've been in four years.

The price is currently $4.56 a gallon, up 3 cents over last week, and $1.38 higher than this time last year, according to AAA. Today's prices are right around what customers were paying four years ago, when the price on Memorial Day was $4.61. Gas prices experienced a short-lived dip earlier this month before rising again.

Gasoline is in high demand ahead of Memorial Day weekend and the Strait of Hormuz remains closed because of the war in Iran, leaving prices elevated as more drivers hit the road. GasBuddy's Patrick De Haan predicts that gas prices could soon hit $4.80 a galloon soon amid the Strait closure.

Oil prices ticked up slightly on Thursday, with WTI sitting around $100 a barrel, after plunging on Wednesday.

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(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Meanwhile, prediction markets show traders pricing in an 11% chance that gas could continue to rise past $4.60 with less than a week left in the month, while only 1% bet it could rise to about $5, despite previous speculation that prices could hit the $5 mark by the end of the month.

Memorial Day Weekend Gas Prices Reach Four-Year Highs

AAA Fuel Prices

Gasoline is in high demand ahead of Memorial Day weekend and the Strait of Hormuz remains closed because of the war in Iran, leaving prices elevated as more drivers hit the road. GasBuddy's Patrick De Haan predicts that gas prices could soon hit $4.80 a galloon soon amid the Strait closure.

Oil prices ticked up slightly on Thursday, with WTI sitting around $100 a barrel, after plunging on Wednesday.

Loading...

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Meanwhile, prediction markets show traders pricing in an 11% chance that gas could continue to rise past $4.60 with less than a week left in the month, while only 1% bet it could rise to about $5, despite previous speculation that prices could hit the $5 mark by the end of the month.

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For the first quarter, Nio reported:

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