Minnesota Memorial Day travel: Gas prices could hit $4.80 this summer

Pain at the pump this Memorial Day weekend

Drivers are facing some of the highest gas prices in years this Memorial Day weekend. FOX 9's Leon Purvis has the latest details. 

MINNEAPOLIS (FOX 9) - Memorial Day weekend is kicking off summer, but this year, drivers are facing some of the highest gas prices in years.

READ MORE: Twin Cities gas prices jump 30 cents in a week, now averaging $4.48 per gallon

Drivers weigh summer travel plans as gas prices climb

What we know:

GasBuddy says this could be the most expensive summer for gas since 2022 if tensions in the Middle East continue to impact global oil shipping. AAA expects nearly 45 million people to travel at least 50 miles over Memorial Day weekend, even as prices soar.

Some drivers told FOX 9 they are sticking with their holiday plans despite the higher cost, while others are reconsidering how far they will go this summer. 

"I’m pretty tight month to month right now with what I make," said Mike Schwartz of Cottage Grove. 

Patrick Montbriand of Bloomington added, "It's one of those things where you kind of, have your hands tied."

Many families are watching every dollar more closely. 

"I've already, a couple times this month, just gone through and seeing if there's any like subscriptions or any other monthly expenses I can cut back on," said Schwartz.

By the numbers:

Last summer, gas prices in the Twin Cities ranged between about $2.90 and $3.20 per gallon. 

As of Wednesday, GasBuddy reports the average price in the metro is around $4.45 per gallon.

A round-trip drive to Duluth that may have cost about $40 in gas last summer could now cost about $58. A drive to Wisconsin Dells could jump from about $60 last year to about $87 this holiday weekend. A round-trip to Bemidji could see similar increases.

"It's going to be a much more expensive summer. Americans collectively have already spent nearly $33 billion more on gasoline than they did a couple of months ago prior to this," said Patrick De Haan, head of petroleum analysis at GasBuddy.

Local perspective:

Analysts say higher gas prices this summer are concerning because of how quickly they can spike. 

At the end of February, when the U.S. Iran war started, the average price in the metro was $2.64. It has gone up more than $1.80 since then.

Drivers in the Twin Cities are feeling the impact at the pump, with many reconsidering their summer plans and looking for ways to save on other expenses.

What we don't know:

It is not clear how long gas prices will remain high or if further global events will push them even higher as the summer continues.