![Gas prices hit another national record Wednesday as Americans filled up ahead of Memorial Day weekend. Meanwhile, oil inventories drained.](https://straightarrownews-preprod.go-vip.net/wp-content/uploads/2022/05/image-145.jpg?w=1280)
SIMONE DEL ROSARIO: GAS PRICES HIT ANOTHER RECORD WEDNESDAY AS AMERICANS FILLED UP AHEAD OF MEMORIAL DAY WEEKEND – THE OFFICIAL START OF THE SUMMER DRIVING SEASON.
SOME AREAS OF CALIFORNIA ARE PAYING MORE PER GALLON THAN THE FEDERAL MINIMUM WAGE.
AND OIL PRICES ARE PUSHING HIGHER AS THE COUNTRY’S STOCKPILES DRAIN.
THE U-S GOVERNMENT SAYS COMMERCIAL CRUDE OIL INVENTORY IS DOWN ABOUT A MILLION BARRELS FROM THE WEEK BEFORE. AND IS 14% BELOW THE 5-YEAR AVERAGE FOR THIS TIME OF YEAR.
MOTOR GAS INVENTORIES ARE ALSO TIGHT, DOWN ANOTHER HALF MILLION BARRELS LAST WEEK – JUST AS MORE AMERICANS ARE HITTING THE ROAD.
TRAVEL OVER MEMORIAL DAY WEEKEND IS EXPECTED TO BE THE BUSIEST SINCE THE PANDEMIC AS DRIVERS ENDURE HIGHER PRICES TO GET OUT OF DODGE.
THE DEMAND – PUTTING IMMENSE PRESSURE ON DEPLETING STOCKS THAT ARE AT THE LOWEST SEASONAL LEVELS SINCE 2014, ACCORDING TO A COMMERZBANK ANALYST.
IN NEW YORK FOR JUST BUSINESS I’M SIMONE DEL ROSARIO.