CHARLESTON, SC (WCSC) – GasBuddy’s annual Labor Day travel forecast predicts that drivers can expect the lowest gas prices ever, about 13% lower than last year.

The forecast released Tuesday morning projects that the average price of gasoline will fall to $3.27 per gallon on Labor Day, the lowest price since 2021 and 50 cents per gallon less than last year. That would save Americans a total of $750 million during the Friday-Monday travel period.

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Gasoline prices in South Carolina are usually below the national average, which was $3.30 on Monday morning. But the average gas price in South Carolina was 40 cents lower at $2.90 on Monday morning. South Carolina was one of eight states where gas prices were already below $3 a gallon, said Patrick De Haan, director of petroleum analysis at GasBuddy.

De Haan said lower demand has helped bring gasoline prices down from a peak of $3.69 a gallon in April.

“It’s been a great summer for drivers, as gasoline prices have generally been lower than last year,” he said. “But just before Labor Day, the gap has grown significantly compared to last year, as there have been few outages or heat waves at the refineries this month.”

He said the quiet hurricane season and the resulting lack of threat to major refineries may not lead to a price increase in late summer.

“While many Americans wish summer could last forever, the good news is that we may have the best chance in years to get the national average below $3 a gallon,” De Haan said. “As Thanksgiving approaches, tens of thousands of gas stations are likely to eventually drop back below that level, thanks to falling seasonal demand and cheaper winter gasoline just around the corner.”

Gas stations in most states will begin switching to Winder Blend gasoline on September 16, which will likely accelerate the decline in gasoline prices.

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