The national average gas price is sitting at a 10-year low for Memorial Day weekend, and Americans shouldn't expect to pay much more at the pump this summer, GasBuddy CEO Walt Doyle said Friday.
The current average price is $2.33 per gallon, 40 cents less than at this time last year and more than a dollar cheaper than in 2014, according to GasBuddy, an operator of fuel price monitoring apps.
With gas prices at multiyear lows, the company forecasts Americans will spend $12 billion at the pump this weekend. More than half of the respondents to a GasBuddy survey said they plan to drive more than 400 miles during the long weekend.
"Cheap gas is clearly fueling the desire to have a road trip and enabling the consumer to do that with less discomfort on the pocket," Doyle told CNBC's "Squawk on the Street."