--- title: Gas Prices Could Rise 60 Cents or More by Memorial Day description: Gas prices have risen from winter to spring in all but one of the past 10 years, and the average gallon could shoot up 60 cents in 2023. authors: - name: Pete Grieve role: Lead News Reporter url: https://money.com/author/pete-grieve/ bio: Pete Grieve is a personal finance reporter. In his time at Money, Pete has covered everything from car buying to credit cards to the housing market. education: University of Chicago, BA Political Science at_money_since: 2022 articles: 602 covers: - Economy and Politics - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes social: - https://twitter.com/pete_grieve - https://linkedin.com/in/pete-grieve-b5aa02138 - https://www.facebook.com/petegrieve4 editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Economy and Politics - Banking - Business - Career Advice - Credit - Credit Cards - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2023-03-07T17:26:14.000Z' modified: '2024-01-10T13:25:58.000Z' section: Economy and Politics tags: - Gas prices - News word_count: 405 canonical: https://money.com/gas-prices-rise-spring-2023/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Man filling up his car with gas](https://img.money.com/2023/03/News-Gas-price-up-Memorial-day.jpg) Drivers have enjoyed lower and more stable gas prices in recent months — welcomed relief after average [prices soared above $5](https://money.com/gas-prices-plunge-soon/) nationally last summer. But experts say gas prices are poised to rise again as we move into spring. In all but one of the past 10 years, the price of the average gallon of gas increased in the U.S. during the transition from winter to spring, according to price comparison app [GasBuddy](https://twitter.com/GasBuddyGuy/status/1633101231366307840). The one exception was 2020, when prices declined because demand for gasoline plummeted at the start of the pandemic. The average gallon currently costs about $3.41, down more than 73 cents from a year ago when the [price was above $4.](https://money.com/high-gas-prices-price-gouging/) But gas prices have been increasing, up by nearly 10 cents in the past week. Prices vary significantly depending on where you live. In Mississippi and Texas, the average gallon costs just below $3, while prices in Hawaii and California are at $4.86 and $4.88, respectively. ## What experts say It’s possible we could see a $4 national average return at some point in the coming months, [GasBuddy said](https://www.gasbuddy.com/go/average-gas-prices-climb-as-transition-to-summer-gasoline-starts-diesel-keeps-falling) in a Monday report. The price of the average gallon is rising as the annual transition to [more expensive summer-grade gasoline](https://money.com/gas-prices-fall-before-elections-president/) is getting underway. - “The higher cost of these various blends is being passed along to motorists, as we see every year ahead of the summer driving season,” Patrick De Haan, the company’s head of petroleum said. “While we may not see weekly increases, the overall trend will remain upward through much of the spring.” - The transition to summer gasoline will be complete in most of the country by Memorial Day, and [the average gallon could hit $4 by then](https://money.com/gas-prices-lower-2023-forecasts/), De Haan says. Still, prices aren't expected to get nearly as high as they were last Memorial Day, when the national average was above $4.60. - If oil prices remain lower in the coming months, drivers in most parts of the country could continue paying less than $4 per gallon. Crude oil, which [accounts for about 55%](https://www.eia.gov/petroleum/gasdiesel/) of what drivers pay for a gallon of gas, was trading at around $79 per barrel on Tuesday, according to the West Texas Intermediate measure. That's 34% lower than the level a year ago. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/gas-prices-rise-spring-2023/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Economy and Politics", "item": "https://money.com/economy-and-politics/" }, { "@type": "ListItem", "position": 3, "name": "Gas Prices", "item": "https://money.com/gas-prices/" }, { "@type": "ListItem", "position": 4, "name": "Gas Prices Could Rise 60 Cents or More by Memorial Day" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/gas-prices-rise-spring-2023/#webpage", "url": "https://money.com/gas-prices-rise-spring-2023/", "name": "Gas Prices Could Rise 60 Cents or More by Memorial Day", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2023-03-07T17:26:14.000Z", "mainEntity": { "@id": "https://money.com/gas-prices-rise-spring-2023/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/gas-prices-rise-spring-2023/#breadcrumb" }, "dateModified": "2024-01-10T13:25:58.000Z" }, { "@type": "NewsArticle", "headline": "Gas Prices Could Rise 60 Cents or More by Memorial Day", "articleSection": "Economy and Politics", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2023/03/News-Gas-price-up-Memorial-day.jpg", "width": 2880, "height": 1920, "caption": "News-Gas-price-up-Memorial-day" } ], "author": [ { "@type": "Person", "name": "Pete Grieve", "url": "https://money.com/author/pete-grieve/", "@id": "https://money.com/author/pete-grieve/#author", "description": "Pete Grieve is a personal finance reporter. 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