
WASHINGTON, DC – Labor Day weekend travelers are facing the highest gas prices ever for this time of year.
The national average is $4.14, up 4 cents from last week. Continued volatility in the Strait of Hormuz has pushed crude oil prices in the $90 per barrel range. After a record-setting August, this Labor Day weekend is on track to also set a record at the pump.

The national average has never been above $4 per gallon on Labor Day. The current Labor Day record is $3.82, set on September 3, 2012. Even though gasoline demand decreases this time of year, typically bringing down gas prices, this year is different due to the high cost of crude oil.

According to new data from the Energy Information Administration (EIA), gasoline demand decreased last week from 9.04 million barrels per day to 8.92 million.

Total domestic gasoline supply decreased from 206.8 million barrels to 205.7 million. Gasoline production stayed the same as last week, averaging 9.8 million barrels per day.




