#LaborDayGasRecord
About LaborDayGasRecord
Supply risk around the Strait of Hormuz keeps crude elevated, and the cost has reached the pump. AAA data shows the US average for regular gasoline at about $4.15/gal as of Sep 5, a Labor Day record. The prior Labor Day high was $3.82 in 2012, and the national average had never topped $4 on the holiday. Diesel hit about $5.85/gal on Sep 3, an all-time high above the Jun 2022 peak. AAA notes gas demand usually eases this time of year and pulls prices down, but crude near $90 is overriding it.
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JUST IN: Americans hit with record-high Labor Day Weekend gasoline prices - CNBC.
$BSB
🇺🇸 America is heading into Labor Day weekend facing record petrol prices, with GasBuddy forecasting $4.03 per gallon on Monday: above the previous Labor Day record of $3.83 set in 2012.
The national average was already around $4.13 on Thursday, nearly $1 higher than a year ago, as the U.S-Iran war continues to push up energy costs.
So much for the "short-term" pain
Source: Al Jazeera / Writer: Mhedi
