Des Moines' gas prices are cheaper this Memorial Day

Des Moines drivers were paying an average of $3.25 per gallon of regular gasoline as of May 1, compared to $4.25 a year ago, Axios' Alex Fitzpatrick and Kavya Beheraj report.

The big picture: Gas prices set record all-time highs last year amid a broader inflation crisis, and driven in part by Russia's invasion of Ukraine, which destabilized global energy markets.

Zoom out: Nationally, gas prices are rising slightly compared to previous months — but they're still well below last year's levels as we head into Memorial Day weekend and the travel-heavy summer season.

• The nationwide average price per gallon of regular gasoline has been $3.53 throughout May 2023, compared to $4.60 a year ago.

Yes, but: AAA and others are predicting near-record travel this summer, which could spike demand — and thus lead to higher prices — in the warmer months.

• "It's possible this is merely the lull before Memorial Day, but it could be a trend that lingers into summer," AAA spokesperson Andrew Gross said in a statement.