Labor Day Gas Prices Drop to Lower Levels as Trump Launches Energy Agenda
The summary of the article is:
Americans celebrating Labor Day can expect the lowest gas prices at the pump in five years, with an average price of $3.15 per gallon nationwide, according to GasBuddy. This is 14 cents cheaper than last year and the lowest Labor Day price since 2020, when prices were exceptionally low due to pandemic-related travel restrictions. After prices rose in 2021 and peaked in 2022, gas costs have fallen over the past two years. Although some states have seen recent price increases due to refinery outages, cheaper winter gasoline is expected to bring further relief in mid-September.Industry experts remain optimistic about a seasonal decline in prices despite ongoing challenges such as hurricane season,trade uncertainties,and the war in Ukraine. White House officials credit former President Donald Trump’s energy policies for contributing to the current affordability, highlighting increased American energy production as a key factor lowering costs for consumers.
Americans celebrating Labor Day are expected to benefit from the cheapest prices at the pump in half a decade.
Average gas prices on the holiday are expected to be $3.15 per gallon nationwide, according to a Tuesday analysis from GasBuddy.
That’s a whole 14 cents lower than 2024, and the lowest Labor Day fuel benchmark since 2020.
In 2020, drivers were paying a mere $2.22 per gallon as lockdowns limited summer and holiday travel.
By 2021, prices had risen to $3.16 per gallon, but in 2022, they surged to $3.79 per gallon.
Prices stayed around the same in 2023 at $3.77 per gallon before dropping back down over the past two years.
“While it will be the most affordable Labor Day weekend to fill up for most in the last five years, gas prices in nearly half of all states have risen in the last month due to localized refinery outages,” GasBuddy said.
“However, motorists can expect more relief to arrive in the weeks ahead as much of the nation will see the transition back to cheaper winter gasoline in mid-September,” the company added.
Patrick De Haan, the head of petroleum analysis at GasBuddy, said that he remains “optimistic that as cooler weather invades, gas prices too, will seasonally cool off.”
“We’ve seen a remarkably affordable summer to hit the road with incomes up and gas prices down, but there are some challenges that remain: hurricane season and uncertainty over trade, tariffs and Russia’s war on Ukraine,” he described.
White House Press Secretary Karoline Leavitt attributed the lower prices to President Donald Trump and his energy agenda.
“Thanks to President Trump fully unleashing American energy dominance, gas prices this summer are at five-year lows and families are saving significant money at the pump,” she told Fox News.
“President Trump ended Joe Biden’s green new scam policies and is making America affordable again,” she added.
Trump emphasized increasing energy production, including drilling for more oil, throughout his presidential campaign.
Energy Secretary Chris Wright agreed that the Trump administration is keeping its promise and directly benefiting consumers.
“President Trump campaigned on lowering costs and this Labor Day weekend, the American people will see the results firsthand at the gas pump — with the lowest gas prices in years,” Wright said.
“His approach is simple and commonsense: more American energy means lower costs, more jobs, and more prosperity.”
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