Labor Day gas prices set to top $4 and break 2012 record

  • GasBuddy and AAA project record-high Labor Day gasoline prices above $4 per gallon.
  • $4.07 was August’s national average, while July ground beef averaged $6.89 per pound.
  • TSA expects over 17 million airport travelers from Thursday through Wednesday around Labor Day.

Gasoline prices are expected to remain above $4 per gallon over Labor Day weekend, with GasBuddy and AAA projecting the highest holiday prices on record, surpassing the previous record set in 2012. The forecast follows a record August national average of $4.07 per gallon, according to AAA. Diesel also reached a new high Friday, increasing costs across industries, while airfare to leading Labor Day destinations is nearly 20% higher than last year. TSA (Transportation Security Administration) expects more than 17 million airport travelers between the Thursday and Wednesday surrounding Labor Day, including about 2.87 million on the Friday before the holiday, compared with a record 2.97 million last year. Ground beef averaged $6.89 per pound in July, up 10% from a year earlier. The Ipsos Consumer Tracker found that the share of Americans who believe gas prices are rising increased from 38% in March to 79%, a shift Matt Carmichael described as unusually sudden. Market disruption linked to the intensifying war in Iran, including reported troop-deployment extensions by Defense Secretary Pete Hegseth, is adding to uncertainty. With energy and food costs elevated, the holiday could intensify affordability concerns ahead of the midterm elections and create political difficulties for the GOP.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.