Gas prices dip nationwide

Fuel prices across the country are dropping as the Memorial Day weekend begins. Federal data shows that the average cost of regular gasoline in the US dipped to $3.58 per gallon last week, down from $3.67 a month earlier.

According to the American Automobile Association (AAA), around 38.4 million Americans are expected to hit the road this weekend.

Federal record keepers say gas prices have been falling across all states since last month.

However, experts caution that this downward trend may not last long, especially with hurricane season on the horizon. According to projections from Gasbuddy.com, the national gas average could skyrocket to $4 per gallon if a major storm hits the coast.

This week, the Biden administration announced it would release 1 million barrels of gasoline from a Northeast reserve to lower gas prices ahead of the July 4 holiday and summer travel season.