Inflation has been so high that many consumers have had trouble coping with basic living expenses such as groceries.
Some people are still going on vacations, but others have canceled their trips because gasoline prices are simply too high, and they would inevitably pile up along with all of their other expenses.
"It’s a Memorial Day weekend to remember as vacationers kick off the summer driving season with the highest holiday gas prices ever recorded. New Mexico’s statewide average gas price stood at $4.32 a gallon Thursday, according to AAA New Mexico. That’s just one cent lower than last week, when the state hit an all-time peak of $4.33 a gallon, marking nearly five straight weeks of consecutive price hikes. Nationally, the average price of gas came down by just under a penny this week, settling at $4.59 a gallon as of Thursday, said GasBuddy Head of Petroleum Analysis Patrick De Haan. But that’s still a record holiday high." —Kevin Robinson-Avila
This is definitely the time to pinch pennies, considering that prices will likely not go down anytime soon.
“This will be the most expensive Memorial Day that we’ve ever seen, and things will likely remain that way in coming weeks… It’s looking to be the most expensive summer ever. Prices are unlikely to go below $4 a gallon any time this summer, and could still go slightly higher.” —De Haan
If you are planning a summer road trip, you will want to include sky-high gasoline prices in your budget!