Gas prices remain elevated

The average U.S. price of a gallon of regular unleaded jumped 8 cents over the past two weeks to $3.10. The lingering effects of the Colonial Pipeline shutdown is one reason. But analysts also cite the rising price of corn, a key ingredient in ethanol, which is blended by refiners into gasoline.

Will the prices stay high? Patrick De Haan of Gasbuddy.com said Monday that he expected the national average to dip below $3 a gallon by Memorial Day weekend depending on demand, though prices could climb again later in the summer. The price at the pump is more than a dollar higher than it was a year ago, but gas prices plummeted during pandemic lockdowns.

Dig deeper: Listen to Katie Gaultney’s report on The World and Everything In It podcast about what’s driving up gas prices.