U.S. regular gas hits $4.14 a gallon before Labor Day, diesel reaches record $5.85

  • AAA reported $4.14 regular gasoline ahead of the Labor Day weekend.
  • Diesel reached a record $5.85 national average on Friday.
  • Brown University’s tracker put added household fuel costs above $741 since the Iran war began.

The average U.S. price for regular gasoline reached $4.14 a gallon ahead of the Labor Day weekend, nearly $1 above last year and higher than the previous holiday record of $3.82 set in 2012, AAA said. Gas prices have never previously exceeded $4 a gallon on Labor Day. Prices rose after the U.S. and Israel attacked Iran in February, while crude oil traffic through the Strait of Hormuz fell sharply and Iran refused to reopen the waterway. Diesel reached a record national average of $5.85 a gallon Friday, raising freight and consumer costs. Seasonal refinery changes could normally bring relief after summer, but refinery utilization, extreme Texas heat, possible hurricanes, Ukrainian drone attacks on Russian refineries and lower Chinese refinery output are adding uncertainty. Energy Secretary Chris Wright said the Trump administration was increasing production and that futures prices pointed to gasoline being about 35 cents cheaper in November. Since the start of the Iran war, higher fuel prices have cost Americans more than $741 per household, according to a Brown University tracker.

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