Gasoline demand reaches new high as more travelers hit the road

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U.S. gasoline demand has jumped to its highest level since summer 2019, according to new data. 

On Sunday, demand jumped nearly 7% compared to a week ago, GasBuddy analyst Patrick De Haan tweeted. 

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Additionally, demand surged 9.6% above the average of the last four Sundays, De Haan said.   

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Just two days before, De Haan said that demand broke a new record, marking a "new post-COVID high."

Last week, he said that demand for gas "has come roaring back," which he argued has pushed gas prices up to the highest levels in years. 

Likewise, AAA also cautioned that higher demand "will likely contribute to fluctuations in pump prices through the holiday weekend" as tens of millions of Americans hit the road. 

Heading into Memorial Day weekend, prices were surging above $3 per gallon for the first time in seven years.    

WHITE HOUSE PUSHES BACK AS MEMORIAL DAY WEEKEND GAS PRICES TOP $3 FOR FIRST TIME IN 7 YEARS

Prices, which are the highest for Memorial Day Weekend since 2014, were $1.08 more expensive than a year ago, when demand was depressed due to COVID-19.  

"While prices have increased from the lows last year—as demand drastically dipped—prices at just about $3 per gallon are still well in-line with what they’ve been in recent decades," White House press secretary Jen Psaki said in a statement.  

As of May 31, the average price of gas nationwide was about $3.04 per gallon, according to AAA. 

FOX Business' Jonathan Garber contributed to this report. 

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