A gallon of regular gas is expected to cost $2.96 on average this holiday weekend, an almost 50 cent jump from Memorial Day weekend in 2017, according to AAA.
Drivers will end up paying over $1 billion more for gas this weekend nationwide, GasBuddy.com reports.
This is due to huge global demand and a shrinking international supply, according to NBC.
“Pending U.S. sanctions against Iran and Venezuela, as well as OPEC cuts and record U.S. oil production, are influencing higher crude oil prices in the market,” AAA spokeswoman Jeanette Casselano told NBC News.
In some places, gas prices have spiked in recent weeks.
In New York City, a Mobil station reportedly sold gas at $4.99 per gallon.
To trim gas costs, experts say to drive about 5 miles under the speed limit. Drivers can also try to save on gas by avoiding starting and stopping abruptly in traffic, instead easing off the gas, NBC reports. Also, a clean air filter and good tire air pressure can help keep gas costs low.