04 May Will Gas Prices Spike for Memorial Day Weekend?
Has anyone else noticed how gas prices always seem to go up on the weekends? Not only do we find that gas prices increase on weekends but they also consistently rise when we have a holiday. Are gas prices going up for Memorial Day weekend? If gas price patterns are any indication, the answer would be yes.
Why are gas prices going up for Memorial Day weekend? As a rule, gas prices tend to begin an increase in the spring and peak in late summer, when people are driving more. With good weather and vacations, gasoline demand increases. The two elements that affect the cost of gasoline are crude oil prices and the level of supply to demand. Even when crude oil prices are stable, gas prices will fluctuate due to demand and competition between local gas stations. If crude oil prices do not change, we can expect an increase of 10 to 20 cents between January and summer.
Gas prices going up for Memorial Day weekend gives one something to think about. Memorial Day, originally called Decoration Day, was a day established in remembrance of those who lost their lives in service to our nation. Traditional observance of Memorial Day has declined over the years. Americans have forgotten the meaning and traditions; and the graves of the fallen are increasingly ignored. Some Americans feel Memorial Day is for honoring all of the deceased, not just those who died in service to our country.
One day out of an entire year was set aside for the nation to come together to remember, to reflect, and to honor those who gave their all in service to our nation. Those of us who still adhere to some of the traditions of Memorial Day typically go to place flowers on the graves of our loved ones. If the price of a gallon shoots up for the weekend, it will make it more difficult for some.