Sunday, May 29, 2016

Gasoline Prices: Down 40 cents per gallon from last year on Memorial Day

by Bill McBride on 5/29/2016 07:55:00 PM

According to Gasbuddy.com, gasoline prices are down to a national average of $2.33 per gallon. One year ago for the week of Memorial Day, prices were at $2.75 per gallon, and for the same week two years ago prices were $3.75 per gallon.

This is the lowest Memorial Day gasoline prices since 2005 (even lower than in 2009).

Ten years ago, price were at $2.94 per gallon, and fifteen years ago at $1.74.

Memorial DayWeekly Average
Gasoline Price
29-May-00$1.57
28-May-01$1.74
27-May-02$1.43
26-May-03$1.53
31-May-04$2.10
30-May-05$2.17
29-May-06$2.94
28-May-07$3.25
26-May-08$3.99
25-May-09$2.49
31-May-10$2.84
30-May-11$3.90
28-May-12$3.73
27-May-13$3.70
26-May-14$3.75
25-May-15$2.75
29-May-16$2.33


According to Bloomberg, WTI oil is at $49.61 per barrel, and Brent is at $49.60 per barrel.  Last year on Memorial Day, Brent was at $65.37 per barrel, and two years ago Brent was at $110.01.