American drivers are mostly finding a better deal this Labor Day holiday weekend compared to last year. Average gas prices are down. Diesel fuel is up, but not by much.
The U.S. Energy Information Administration’s (EIA) latest report on fuel prices closely matches that of media outlets like GasBuddy, showing that average gasoline prices are down between $0.10 and $0.14 a gallon compared to this time last year. As of Monday, EIA reported the national average for regular unleaded fuel at $3.14 a gallon.
AAA reported the average as of Saturday was at $3.19, compared to last year’s Labor Day weekend average at $3.35.
GasBuddy released its weekend price predictions report Tuesday, stating that prices would be the lowest American drivers have seen since 2020. It figured the national average for the weekend would hover around $3.15 a gallon.
Patrick De Haan is the head of petroleum analysis at GasBuddy. He wrote in this week’s price report that this has been the “cheapest summer to hit the road since the pandemic, a trend that will likely continue with the potential for the national average to fall below $3 per gallon this fall.”
While many regions of the country have seen notable price drops, De Haan emphasized global factors could change things in a hurry, including hurricanes, tariffs and even Russia’s ongoing invasion of Ukraine.
There is a significant price change between states, with a variety of factors, including state taxes, coming into play. AAA reported Saturday that the lowest state average gas price is in Mississippi at $2.73. California’s average is $1.86 higher at $4.59.
Availability has not been a factor, with no regions of the country reporting shortages or delivery delays.
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