Gas Prices Surging Ahead Of Memorial Day Weekend
BOSTON (CBS) - If you drive a gasoline-powered car, then you've noticed the price of a gallon going steadily up ahead of Memorial Day weekend. The price of regular gasoline in Massachusetts went up six cents on Monday.
"Yea, I'm starting to feel it's too expensive," said one driver.
And Senator Ed Markey says part of the problem lies squarely with President Trump. "Gas prices are up nearly 25% since the president took office," Sen. Ed Markey said. "President Trump's incoherent foreign policy has driven up oil prices by exacerbating the geopolitical risk premium on prices."
Markey admits that OPEC and world markets are also driving up the price of crude. But according to AAA Northeast, the bustling American economy also plays a role.
"What we're seeing right now, is we're seeing more people back at work, record low unemployment down to 3.9%," said Mary Maguire of AAA. "More people commuting for work, we see travel increasing by 5% for this Memorial Day weekend across the country."
With prices likely going over $3 a gallon soon, it will mean about $350 more a year out of drivers' pockets.
