Weak demand for fuel pushes down gasoline pump prices for Memorial Day (NYSEARCA:XLE)

Gasoline at the pump this Memorial Day weekend will cost U.S. consumers ~$1.00 per gallon less than at the same time last year, driven by weak demand for fuel and low oil prices.

Nationally, a gallon of gas averaged $3.57 on Friday, down from $4.59 a year ago, according to AAA, which also forecasts 42.3M people will be traveling this weekend by car, plane, bus or train, nearly 3M more than last year.