Labor Day gas prices expected to be lowest since 2004: Report

Labor Day gas prices are expected to be at their lowest since 2004, GasBuddy reports. The company predicts a national average of $2.19 per gallon, down nearly 37 cents from last year and the lowest priced Labor Day since 2004’s $1.82 per gallon average.

“With Hurricane Laura now behind us and many refineries returning to service, gas prices will begin to head lower just in time for the Labor Day weekend,” said Patrick De Haan, GasBuddy’s head of petroleum analysis. “This will be the lowest Labor Day weekend gas prices since 2004, closing out an incredible summer at the pump with the most stable and lowest overall price from Memorial Day to Labor Day since 2004 as well.”

Nationally, gas prices are expected to be the lowest this Labor Day since Labor Day 2004. (Source: GasBuddy)
Nationally, gas prices are expected to be the lowest this Labor Day since Labor Day 2004. (Source: GasBuddy)

The good news for motorists, De Haan said, is that prices at the pump likely will continue falling as seasonal factors kick in, reducing demand, and the nation switches back to cheaper winter gas in a couple of weeks.

GasBuddy’s study on how many hours motorists need to work to pay their annual gasoline expenses found that U.S. motorists can work 19 percent fewer hours on average to pay their annual gas bill compared with 2019.

“Despite the drop in amount of labor needed to fuel the car, it is sadly juxtaposed with historic unemployment rates,” De Haan said. “Fewer hours of work required to fill a gas tank does not offer much relief for millions of Americans without jobs across the country.”

AAA Western and Central New York expects travel to increase over the coming holiday weekend. The 1,000 Islands and the Adirondacks regions are the top destinations statewide, as well as other areas in New York including the Finger Lakes, Catskill Mountains, Chautauqua Lake, Lake George and Niagara Falls.

Statewide, the average price of a gallon of gas is $2.30 this week, AAA reported. On Monday, GasBuddy reported that Rochester’s gas prices have risen 6.8 cents per gallon in the past week, averaging $2.26 per gallon. Gas prices in Rochester are 5 cents per gallon higher than a month ago and stand 44 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Rochester was priced at $1.95 per gallon on Monday while the most expensive was $2.50. The lowest price in the state this week was $1.94 per gallon, while the highest was $2.89, a difference of 95.0 cents per gallon.

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