As Labor Day approaches, drivers are experiencing relief at the pump as gas prices drop. Average prices have been falling steadily, and this trend is likely to continue through the holiday weekend, offering a bit of good news for those planning road trips or last-minute summer getaways.
According to GasBuddy’s Labor Day travel forecast, the average price of gas is predicted to fall to $3.27 per gallon on Monday. This price per gallon would be 13% below last year’s average of $3.77, making it the lowest Labor Day price since 2021. GasBuddy experts predict Americans will save $750 million on gas over this weekend compared to last year.
The decline in gas prices can be attributed to several factors, including lower global demand as the summer season ends, which has led to decreased prices at the pump. AAA spokesperson Andrew Gross says “the clouds of war overseas are less dark at the moment and the Atlantic is quiet now too, which is taking pressure off of oil prices,” referring to the recent break in hurricane activity.
As you prepare for your holiday weekend, take advantage of the lower gas prices. The savings at the pump could mean more funds for enjoying your destination. Safe travels and have a fantastic Labor Day weekend!
