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Gas prices hit $3 per gallon average, first time since 2014

Gasoline prices have reached their highest level in 2,381 days.

MUSKEGON, Mich. — According to GasBuddy, the national average price of gasoline just passed $3 per gallon. The travel and navigation app drivers use to save money on gas says the last time the national average price hit the $3 milestone was 2014.

GasBuddy previously prognosticated that gas prices may escalate past the key barrier in its 2021 Fuel Outlook released in January of this year. 

The increase comes as a result of Americans traveling more as the COVID-19 pandemic wanes. Travel is returning to 2019 levels, leading to rising gasoline demand.

“While this is not a milestone anyone wants to celebrate, it’s a sign that things are slowly returning to normal,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “This summer may see some blockbuster demand for fuel as well, as Americans find it very challenging to travel internationally, leading many to stay in the confines of U.S. borders, boosting some weeks to potentially record gasoline demand.”

GasBuddy expects summer gas prices not to set records, but settle down to levels more similar to 2018.

Previous yearly peaks in gas prices:

Jan. 9, 2020 = $2.60

May 5, 2019 = $2.89

May 27, 2018 = $2.97

Sept. 9, 2017 = $2.66

June 12, 2016 = $2.38

De Haan believes gas in West Michigan will peak at $3.19. 

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