DistantNews
Support us
🇸🇦 Saudi Arabia /Energy & Infrastructure

US Gasoline Price Set to Top $4 a Gallon on Labor Day Weekend

From Asharq Al-Awsat · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Named sources Ongoing story
  • The US national average gasoline price is expected to reach $4.03 a gallon on Labor Day, surpassing the previous record of $3.83 set in 2012.
  • Higher crude oil prices and concerns about supply disruptions linked to renewed US-Iran military action have pushed fuel prices higher ahead of a major holiday travel weekend.
  • Gasoline prices have become a political concern for President Donald Trump and Republicans, while consumers report cutting back on purchases.

The US national average gasoline price is expected to reach $4.03 a gallon on Labor Day, exceeding the previous holiday record of $3.83 set in 2012. GasBuddy analyst Patrick De Haan said the price would mark the highest point recorded this late in the calendar year.

Gasoline, while not at all-time records, is at its highest level ever recorded this late in the calendar year, meaning Americans could for the first time ever see a national average price of gasoline above $4 per gallon on Labor Day.

· Patrick De HaanThe GasBuddy analyst assessing the expected holiday price.

The average stood at about $4.13 a gallon on Thursday, nearly $1 above last year's level. Analysts describe $4 as a pain point for consumers, and gasoline prices can quickly influence how Americans view the wider economy. Labor Day is typically the last major summer travel weekend, bringing increased driving and air travel.

Prices have risen alongside crude oil, which moved back above $90 a barrel after renewed military action between the United States and Iran revived concerns about disruptions to global supplies. Diesel and heating oil prices also increased amid concerns about supply interruptions following attacks on Russian refining facilities.

Tiny little bit more

· Donald TrumpTrump's description of the additional gasoline cost he said Americans should accept to prevent Iran from obtaining a nuclear weapon.

The issue has become a continuing concern for President Donald Trump and his Republican Party. Trump has pledged to lower energy costs and recently criticized refiners and fuel retailers, accusing them of profiting from high pump prices. On Aug. 14, he said Americans should accept paying a “tiny little bit more” for gasoline to prevent Iran from obtaining a nuclear weapon.

It's completely out of control.

· Randi O’BrienA Colorado driver describing gasoline prices while filling her truck.

Randi O'Brien, 57, said while filling her truck near Evergreen, Colorado, that prices were “completely out of control.” She said she could afford only $15 of gas and drives about 40 minutes round trip each day to work at Home Depot. Colorado, Utah, Idaho, Montana, Wyoming and North Dakota have recorded some of the sharpest increases since the war began. California, Hawaii and Washington have the highest average prices. US refined-product exports are up more than 10% from last year, according to the Energy Information Administration.

I can only afford $15 worth of gas right now.

· Randi O’BrienThe driver explaining how high prices affect her daily commute.
About this summary

Originally published by Asharq Al-Awsat in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

More Stories

From Our Blog