Average gas prices likely to fall below $3/gallon mark.
According to GasBuddy, the average price for regular gasoline is expected to fall back under the $3/gallon mark soon, but it might not last very long.
Now that the Colonial Pipeline service has been restored, analysts believe prices will be lower. With the pipeline now back in service, gas prices are expected to come down in the hardest hit states, and should lead to the national average soon falling back under the $3 per gallon mark.
The break from higher prices will likely only last a couple more weeks. Gasoline is expected to be in high demand just ahead of the Memorial Day holiday weekend.
As of Monday morning, May 17, the nationwide national average for regular unleaded gasoline was $3.03 per gallon, which 6.4 cents higher from last week. Prices were up 16.8 cents compared to this time last month and up 117 cents from a year ago.