Tampa Bay drivers are paying less for gas

Whether you're just headed to the beach or going on a weekend getaway, expect a lot of traffic this Memorial Day weekend.

Why it matters: Travel for the long weekend is expected to hit new highs. AAA estimates that 42.3 million Americans will travel during the holiday weekend — a 7% increase over last year, writes Axios' Sareen Habeshian.

• Florida is also forecast to see record travel. Nearly 2.4 million Floridians are expected to travel at least 50 miles for the holiday weekend — about 96,000 more travelers than in 2019, per AAA.

The intrigue: Gas is more than a dollar per gallon cheaper here than it was last year.

• Tampa Bay drivers were paying an average of $3.50 per gallon of regular gasoline as of May 1, compared to $4.54 a year ago.

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

State of play: 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 this May, compared to $4.60 a year ago.
• Prices are still well above pre- and mid-pandemic levels.

What they're saying: "Despite mild weather and a less volatile economic forecast, drivers are not hitting the road and raising gasoline demand to traditional seasonal levels," said AAA spokesperson Andrew Gross in a statement.

Between the lines: The Environmental Protection Agency issued an emergency waiver last month allowing the summertime sale of gasoline blended with 15% ethanol in a bid to suppress prices.

• So-called E15 gas is typically avoided in summer due to smog concerns.

Be smart: Friday is expected to be the busiest day on the roads during the long weekend, according to INRIX, which provides transportation data and insights.

• The best times to travel by car are in the morning or in the evening after 6pm, per INRIX.