US gasoline prices hit record $4.15 average for Labor Day

  • US gasoline prices reached a record $4.15 on Labor Day, exceeding the prior 2012 record of $3.82.
  • Diesel reached $5.85 nationally Friday, while an earlier Saturday update reported $5.90.
  • Energy Secretary Chris Wright said Washington favored increasing fuel production amid global supply disruptions.

US gasoline prices reached a record $4.15 a gallon on Labor Day, after averaging $4.14 ahead of the holiday, nearly $1 above a year earlier and above the previous Labor Day record of $3.82 set in 2012. Diesel reached $5.85 a gallon nationally on Friday, with an earlier update reporting $5.90 on Saturday. Prices rose after the United States and Israel attacked Iran in February, disrupting crude traffic through the Strait of Hormuz, while Ukrainian attacks on Russian refineries and declining Chinese refinery output added pressure to global fuel supplies. Energy Secretary Chris Wright said the Trump administration was pursuing higher production and that November gasoline futures were about 35 cents cheaper than current prices, though refinery outages, extreme Texas heat and hurricanes could delay relief. Higher fuel costs have reduced household travel and increased transportation expenses passed through to groceries and deliveries; a Brown University tracker estimated the increase had cost Americans more than $741 per household since the Iran war began.

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