U.S. motorists will see the lowest gasoline prices heading into Labor Day in five years, a new analysis shows.
GasBuddy, which monitors national gas prices, projected in an Aug. 26 report that the cost of fuel will be $3.15 per gallon this Labor Day weekend.
By comparison, the average price for a gallon of gasoline on Labor Day was $3.29 last year and $3.77 in 2023.
Patrick De Haan, head of petroleum analysis at GasBuddy, says this has been the “cheapest summer” for gas prices since the pandemic.
“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,” said De Haan, head of petroleum analysis at GasBuddy, in a statement….