Supply and demand picture don't justify gasoline prices

Just in time for Memorial Day, the price of gasoline has surged. The national average price for regular gas has jumped by over 20 cents in the past two weeks alone.

The other day, the price of regular hit $2.30 a gallon — the highest since last November. This is well above the year’s low of $1.60 set back in January, but well below last year’s record of $4.10 a gallon set in early July.

This is not the first time that gasoline prices have risen at this time of the year. The markets anticipate that warmer weather and the advent of Memorial Day will be accompanied by a pickup in driving, hence in the demand for fuel.
Marketwatch