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.
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“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.