Gas Prices Labor Day Projected to be Highest Since 2012
According to GasBuddy, prices this Labor Day weekend will continue to fall slightly from summer highs, though remain over 60 cents more expensive than last year.
Average gas prices in the U.S. this Labor Day are projected to reach $3.79 a gallon, higher than last year's $3.16 a gallon, and the highest price since gas was $3.83 a gallon in 2012, with the lowest price going to 2016 at $2.20 a gallon.
In Wyoming, average gas prices across the state currently sit at an average of $3.86 a gallon, with Campbell County seeing the cheapest average prices at an average of $3.29 a gallon.
According to a survey by Gasbuddy, at the beginning of the summer, 58% of Americans said that they intended to take a road trip over the summer, which went down to 33% traveling on Labor Day weekend.
Gas prices have been falling for the past 11 weeks in a row, the longest consistent decline since 2018, after reaching a peak on June 16 at an average gas price across the U.S. of $5.03.
In Wyoming, the peak was a little later on July 3 at 4.87 a gallon, the highest recorded price in Wyoming going back until 2008,
Patrick De Haan, head of petroleum analysis for GasBuddy, said in the release:
"It was a dizzying time as gas prices surged ahead of summer, which caused many Americans to re-think their summer travel plans, only for the longest decline in gas prices since the pandemic to start providing meaningful relief," De Haan said. "As the sun sets on summer, gas prices are in far more familiar territory and could continue to decline well into fall, barring major disruptions from hurricanes and the likes."