Back to today’s briefing

Story perspectives

Gas Prices Slip to $4.60 as Record Travel Peaks

5/27/2026

27 4

Summary

Story summary

Gas prices in Watertown, New York fell three cents to $4.60 per gallon after the Memorial Day weekend.
National gasoline, diesel, New York’s gasoline and diesel, and crude oil all fell, reaching $4.49, $5.58, $4.59, $5.91 per gallon and $92-$98 a barrel respectively, down from $97-$104.
AAA projected a record 45 million Americans will travel at least 50 miles for Memorial Day, up from 39.1 million drivers and 3.66 million flyers.

History

Historical Context

After OAPEC’s October 1973 embargo—prompted by U.S. support for Israel—oil prices jumped from $3 to nearly $12 per barrel, a four-fold rise that drove U.S. gasoline from $0.36 to $0.64 per gallon. President Richard Nixon appointed William E. Simon to lead the Federal Energy Office, instituting rationing and price controls that shape today’s holiday-travel fuel strategies.

1 of 2

Story summary

Gas prices in Watertown, New York fell three cents to $4.60 per gallon after the Memorial Day weekend.
National gasoline, diesel, New York’s gasoline and diesel, and crude oil all fell, reaching $4.49, $5.58, $4.59, $5.91 per gallon and $92-$98 a barrel respectively, down from $97-$104.
AAA projected a record 45 million Americans will travel at least 50 miles for Memorial Day, up from 39.1 million drivers and 3.66 million flyers.

1 / 2