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Labor Day gas prices expected to be lowest in years

The average price of gasoline across the United States ahead of Labor Day weekend is expected to be the lowest in years.

According to Gas Buddy, the average price for a gallon of fuel ahead of the weekend is expected to be around $3.15, about $0.14 lower than this time last year. This marks the lowest gas prices since Labor Day 2020.

“Labor Day marks the unofficial end of summer, and when it comes to gas prices, it’s been the cheapest summer to hit the road since the pandemic, a trend that will likely continue with the potential for the national average to fall below $3 per gallon this fall,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in a statement.

“We’ve seen a remarkably affordable summer to hit the road with incomes up and gas prices down, but there are some challenges that remain: hurricane season and uncertainty over trade, tariffs and Russia’s war on Ukraine,” the statement continued. 

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Demand for gasoline also typically cools as summer ends. 

Midwestern states have reported a spike in gas prices after operations at a BP refinery in Indiana, the largest in the region, were disrupted following a severe thunderstorm and flooding. This disruption has ultimately affected gas prices in many states in the Midwest, including Indiana, Illinois, Michigan, Ohio, and Wisconsin.

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