Americans celebrating Memorial Day by traveling will find the lowest gas prices since 2003 in real-time dollars, according to a new report.
GasBuddy, a fuel savings platform, projected Tuesday that the national average price of gasoline will be $3.08 per gallon on Memorial Day, making it the lowest in nominal terms since 2021, and the lowest in inflation-adjusted terms since 2003.
The decline is expected to continue through the summer. Between Memorial Day and Labor Day, average prices are forecast to hover around $3.02 per gallon, with some days dipping below the $3 mark. The trend is likely to please the 69 percent of Americans planning to take a road trip this summer. “American road trip culture remains resilient,” GasBuddy said in a news release announcing their 2025 Summer Travel Survey.
Last summer, the national average price of gasoline on Memorial Day was $3.58 per gallon. This year’s lower price reflects a rise in oil production, which has helped drive down crude oil costs. Brent Crude, the global benchmark for oil prices, is currently trading at $65.07 per barrel—down sharply from $83.71 at the same time last year, Breitbart News reported.
GasBuddy’s assessment that this year will bring the lowest Memorial Day gasoline prices since 2003 excludes 2020, when fuel prices plunged due to pandemic-related travel restrictions.
“While we’re forecasting the lowest summer gas prices in years, economic jitters are slightly dampening optimism — but we still expect a robust travel season, with millions of Americans hitting the road, many for extended trips,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“Rather than canceling plans, travelers are becoming more strategic with their spending. GasBuddy’s tools help them find the best fuel prices along their routes, potentially saving families $20 to $40 per trip — money that can be spent making memories instead of filling up,” De Haan continued.
“In addition, remaining aware of a change in gas prices as motorists cross state lines and keeping cool behind the wheel this summer will stretch more miles out of every tank,” he said.
The drop in gas prices marks a significant political win for President Donald Trump. Throughout last year’s campaign, Trump repeatedly pledged that his administration would reduce energy and gasoline costs.
Some Democrats, including Senator Cory Booker, sharply criticized the promise. Booker notably dismissed it with a profane remark, paraphrased as “false excrement.”
