Fuel prices at record Labor Day high in US thanks to Iran War, refinery issues
U.S. fuel prices have reached record highs for the Labor Day weekend, driven by geopolitical tensions in the Strait of Hormuz and refinery issues. Consumers are facing increased costs for both gasoline and diesel, impacting travel and freight delivery.
Why it matters
Illustrates how international conflict and supply chain constraints directly affect domestic consumer costs.
It’s never been more expensive in the U.S. to fill up the tank and take one last summer trip over the Labor Day weekend.
The average price of regular gas was $4.14 a gallon heading into the holiday, nearly a dollar higher than last year and well above the Labor Day weekend record of $3.82 from 2012, according to AAA motor club.
Nicole Collins planned to head from Philadelphia to South Carolina to visit friends, but she said her family has spent most of the summer close to home and not taking their typical weekend trips because driving has gotten so expensive.
“Gas is pretty high right now. It doesn’t help that we also have a baby, so we also have to pay for that,” Collins said outside a gas station in Claymont, Delaware, where regular gas was $4.199 a gallon.
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