Many view Labor Day as the cultural end of summer, and it’s coming up on Monday (September 3rd.) Lots of people take advantage of the long weekend and travel, but if you’re planning to take a road trip you should maybe budget a bit more money for gas. Motor club AAA says vacation gas demand could cause a brief jump in gas prices.
A briefing from AAA released Friday (August 24th) reads, “Tepid demand alongside growing domestic stocks of gasoline, which increased 1.2 million barrels last week, could cause pump prices to dip slightly in the run-up to Labor Day. However, demand is expected to spike around the holiday, leading to a likely, but brief price jump, as drivers take to the nation’s roads one last time before fall arrives.”
For comparison, from August 28th to September 4th last year, the average retail price for a gallon of regular unleaded gas increased 12 percent. AAA reported the national average retail price for a gallon of regular unleaded gasoline was $2.84 on Friday (August 24th.)
