Good news for road trippers planning to hit the highways this upcoming Labor Day weekend: GasBuddy has released its annual Labor Day travel forecast, predicting that the average price of gasoline will continue its downward trend. Officials predict that prices will fall to about $3.27 per gallon, which would mark the lowest Labor Day price since 2021.

You can save some money this Labor Day weekend.

At $3.27 per gallon, the national average this year is about 50 cents lower than last year’s $3.77 – a reduction of almost 13 percent. This significant price drop represents a total savings of about $750 million for travelers during the Friday-Monday travel period.

WA DRIVERS ENJOY FALLING PRICES

Gasoline prices peaked at $3.69 per gallon earlier this year in mid-April, but have dropped significantly due to falling demand. Patrick De Haan, director of petroleum analysis at GasBuddy, points out that average gasoline prices on the West Coast are currently 65 cents lower than they were at the same time last year. He noted that states like Oregon have seen prices drop by 90 cents per gallon, while Washington and Alaska have seen price drops of 87 cents and 84 cents, respectively.

TRAVELING OUT OF STATE? IN MANY STATES, GAS PRICES ARE LOWER ON LABOR DAY

De Haan stressed that all 50 states are expected to report lower gasoline prices this Labor Day weekend than last year. “It’s been a great summer for drivers, as gasoline prices have generally been lower than last year,” he explained.
One of the factors contributing to the falling prices is the absence of major refinery outages and heat waves that normally affect production. Since the hurricane season has been quiet so far, there is currently no threat to the large refineries that produce gasoline and diesel. This means that the likelihood of a price increase in late summer is lower.

HERE COMES THE WINTER GASOLINE MIXTURE AND EVEN LOWER PRICES

Looking ahead, De Haan mentioned that gas stations in most states will switch to winter gasoline on Sept. 16, a change that is expected to further accelerate the decline in gas prices. With travel intentions increasing for Labor Day — although GasBuddy’s previous survey found only a third of respondents were planning road trips — this year’s forecast seems to bode well for families and travelers looking to make the most of the long holiday weekend without breaking the bank at the pump.

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