AAA Says Labor Day Gas Prices on Track to Be Cheapest in 3 Years

At $2.59, the national gas price average is poised to be potentially the cheapest Labor Day weekend average in three years. California, however, is still at a $3.57 per gallon price.

AAA says today’s average is already nearly a quarter cheaper than during last year’s holiday ($2.83) and four cents cheaper than 2017’s Labor Day ($2.63).

“For Americans who bookend summer with road trips, they will find gas prices this coming weekend that are cheaper than this past Memorial Day and last year’s Labor Day holiday,” said Jeanette Casselano, AAA spokesperson. “At the start of the week, two-thirds of all states have gas price averages that are nearly a quarter cheaper than last year.”

While some states may see gas prices increase by a few pennies ahead of the holiday weekend, which isn’t atypical, any jumps will be short-term.

WEST COAST

Motorists in the West Coast region are paying the highest pump prices in the nation, with all states in the region landing on the top 10 most expensive list. Hawaii ($3.64) and California ($3.57) are the most expensive markets in the country. Other states in the region are seeing the following prices: Washington ($3.21), Nevada ($3.13), Oregon ($3.05), Alaska ($3.00) and Arizona ($2.81). State averages in the region have decreased on the week by as much as three cents, except in Arizona, which saw a three-cent increase since last Monday and is one of only two states in the country to see pump prices push more expensive.

The EIA’s report for the week ending on August 16 showed that West Coast gasoline stocks decreased slightly from 30.2 million bbl to 29.6 million bbl. Additionally, the report showed regional refinery utilization rose to 96.6% giving an indication of future production capability. If there is a supply disruption or increase in demand this week, pump prices in the region could increase moderately because of tighter stock levels.

Full Report: https://gasprices.aaa.com/national-gas-price-average-for-labor-day-on-track-to-be-cheapest-in-three-years/