This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

How to Save Money on Rising Gas Prices This Memorial Day Weekend

NEW YORK (TheStreet) -- Memorial Day vacationers are paying less at the pump vs. the same weekend last year, but analysts warned that you'll be paying more for gas deeper into the summer.

Of the 38 million Americans AAA anticipates will travel this weekend, 88% of them will be commuting by car and paying on average about $3.67 a gallon, which is about 1 cent less than last year at this time.

But that 1 cent change from a year ago could swing higher by 10 cents in less than three months.

"Unfortunately, I think they're going to go a little higher -- 5 to 10 cents on the retail side," Spartan Commodity Partners CEO Alan Harry said in an interview, adding that consumers are expected this summer to use a lot of unleaded gas, geopolitical risk remains priced into the marketplace and crude prices haven't tumbled, despite conditions that have suggested the commodity should pull back. "So I think it has a little bit more upside, unfortunately, especially coming into the busy weekend and a lot of driving."

The expected rise in prices, though, will follow a familiar pattern among drivers in California, Florida, New York, Massachusetts and others. Sure, the 1 cent drop in a year on the national average is something consumers can stomach, but the East Coast and California saw double-digit cent increases.

California prices this Memorial day are 11 cents higher, Floridians are paying 16 cents more, New Yorkers are paying 14 cents a gallon more and those in Massachusetts are paying about 17 cents more. Even Texans find themselves paying about 3 more cents a gallon at the gas station.

Higher prices at the beginning of the summer coast to coast with the prospect of more expensive gasoline bills ahead are largely due to the unexpected harsh winter weather, which in the first quarter throttled consumer spending and starved GDP to 0.1% growth.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
CVX $104.28 0.00%
F $15.98 0.00%
GM $37.31 0.00%
XOM $83.58 0.00%
AAPL $123.25 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs