DALLAS (WOWO) — Gas prices are expected to hit a record high for the Labor Day weekend, according to GasBuddy’s annual holiday forecast.
GasBuddy projects the national average price for gasoline will reach $4.03 per gallon over the Labor Day weekend.
That would be 87 cents higher than last year’s Labor Day average of $3.16 per gallon and the highest nominal Labor Day price on record.
The previous record was set in 2012, when the national average reached $3.83 per gallon.
GasBuddy says several factors are contributing to the higher prices, including ongoing geopolitical tensions that have disrupted global oil and refined fuel markets.
Conflict involving Iran has threatened traffic through the Strait of Hormuz, a major route for global crude oil shipments. Drone strikes on Russian refineries have also reduced refining capacity and tightened worldwide supplies of gasoline, diesel and jet fuel.
GasBuddy says those disruptions have pushed refining margins to record levels and could keep fuel prices elevated into the fall.
There could be some relief for drivers in the coming weeks. Gasoline demand has declined since peaking in mid-July, and much of the country is expected to switch to cheaper winter-blend gasoline after September 15.
GasBuddy petroleum analyst Patrick De Haan says the outlook will depend heavily on whether geopolitical tensions ease.
The national average Labor Day gas price was $3.79 per gallon in 2022, $3.77 in 2023, $3.29 in 2024 and $3.16 in 2025.
GasBuddy recommends drivers shop around for the lowest prices along their travel routes before filling up over the holiday weekend.
