Close Menu
    Facebook X (Twitter) Instagram
    TRENDING :
    • Kroger layoffs: Grocery giant will slash thousands of corporate jobs as CEO asserts need for ‘faster decisions’
    • Character.ai has filed for Chapter 11 bankruptcy protection as it moves to sell assets to Disney
    • Graphic design isn’t dying. It’s expanding
    • Colleges are cutting administrative jobs. Some critics say that’s a good thing 
    • The Cybersecurity Gap Facing Small Businesses Right Now
    • Kallas & Zelensky Cannot Sleep As Long As One Russian Is Still Breathing
    • Direct Admission Is Growing. The Real Work Starts After the Offer.
    • Hackers Target French Grocers | Armstrong Economics
    Compatriot Chronicle
    • Home
    • US Politics
    • World Politics
    • Economy
    • Business
    • Headline News
    Compatriot Chronicle
    Home»Business»Gas prices break Labor Day weekend records as Iran War and refinery issues continue
    Business

    Gas prices break Labor Day weekend records as Iran War and refinery issues continue

    September 7, 20263 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email Copy Link
    Follow Us
    Google News Flipboard
    Share
    Facebook Twitter LinkedIn Pinterest Email

    It’s never been more expensive in the U.S. to fill up the tank and take one last summer trip over the Labor Day weekend.

    The average price of regular gas was $4.14 a gallon heading into the holiday, nearly a dollar higher than last year and well above the Labor Day weekend record of $3.82 from 2012, according to AAA motor club.

    Nicole Collins planned to head from Philadelphia to South Carolina to visit friends, but she said her family has spent most of the summer close to home and not taking their typical weekend trips because driving has gotten so expensive.

    “Gas is pretty high right now. It doesn’t help that we also have a baby, so we also have to pay for that,” Collins said outside a gas station in Claymont, Delaware, where regular gas was $4.199 a gallon.

    Prices shot up after the U.S. and Israel attacked Iran in February and have not settled down since. Crude oil traffic through the key Strait of Hormuz has plunged, and Iran has refused to reopen the waterway.

    “Everything points to the Iran War and the Strait of Hormuz,” said Tom Seng, a professor of energy finance at Texas Christian University.

    Energy Secretary Chris Wright offered few specifics on when the nation’s drivers might see relief at the gas pump, acknowledging that prices are higher now than Labor Day 2025.

    “Yes, they’re higher today, but we’re doing everything we can to push them down,” Wright said Sunday on ABC’s “This Week.”

    The national average for regular gas prices is still well below the record of $5.02 a gallon set in June 2022.

    But diesel is a different story: It hit a national average of $5.85 a gallon Friday, a record.

    Trucks and other freight delivery systems use a lot of diesel, and that increased transportation cost is being passed on to consumers, whether at the grocery store or through package delivery services.

    “It doesn’t really seem like there’s an end to it,” Collins said.

    Gas prices typically drop as the summer driving season ends and refineries turn to making a cheaper winter blend.

    But Seng said there are other factors this year even beyond the volatile situation in the Middle East that make future prices unpredictable. U.S. refineries are working at 98% capacity, many in the unusually harsh Texas heat. If there are problems there or a hurricane knocks some systems offline, prices will struggle to drop.

    And it’s not just a Middle East problem. Ukrainian drone attacks on Russian refineries are squeezing diesel supplies. Chinese refiners are seeing declining outputs as well, said Matthew Metzgar, a clinical professor of economics at UNC Charlotte.

    “There’s just less gasoline coming out of those refineries,” Metzgar said.

    Wright, the energy secretary, said the Trump administration was taking steps to increase production and that the markets forecast lower prices in the coming months.

    “If you look at the futures prices, if you wanted to buy today in bulk gasoline for two months out in November, it’s about $0.35 cheaper than it is today. So the marketplace thinks gasoline prices are going to move meaningfully lower,” he said.

    Geopolitically, though, there is little a driver can do to knock down gas prices.

    But using price apps can help save a little money, especially on long trips where gas by the interstate could be 10 to 15 cents per gallon more expensive than at stations a short drive down the road, Metzgar said.

    —Jeffrey Collins, Associated Press

    Associated Press videojournalist Mingson Lau and reporter Gary Fields contributed.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Kroger layoffs: Grocery giant will slash thousands of corporate jobs as CEO asserts need for ‘faster decisions’

    October 13, 2026

    Character.ai has filed for Chapter 11 bankruptcy protection as it moves to sell assets to Disney

    October 13, 2026

    Graphic design isn’t dying. It’s expanding

    October 13, 2026
    Top News

    NYC mayoral race: How to live stream the debate tonight as Zohran Mamdani, Andrew Cuomo, and Curtis Sliwa face off

    By Staff WriterOctober 16, 2025

    On Thursday October 16, New Yorkers and people across the country who have been watching…

    Hollywood has plenty of movies. Why are theater screens sitting empty?

    September 11, 2026

    AI Makes Execution Easier — and Human Judgment More Valuable

    September 19, 2026

    The framework that helped us turn impossible projects into breakthrough work.

    November 3, 2025
    Top Trending

    Kroger layoffs: Grocery giant will slash thousands of corporate jobs as CEO asserts need for ‘faster decisions’

    By Staff WriterOctober 13, 2026

    Kroger Co. plans to cut more than a third of its corporate…

    Character.ai has filed for Chapter 11 bankruptcy protection as it moves to sell assets to Disney

    By Staff WriterOctober 13, 2026

    Controversial chatbot platform Character.ai is seeking Chapter 11 bankruptcy protection in the…

    Graphic design isn’t dying. It’s expanding

    By Staff WriterOctober 13, 2026

    It’s a liberating time to be a graphic designer. You would think…

    Categories
    • Business
    • Economy
    • Headline News
    • Top News
    • US Politics
    • World Politics
    About us

    The Populist Bulletin serves as a beacon for the populist movement, which champions the interests of ordinary citizens over the agendas of the powerful and entrenched elitists. Rooted in the belief that the voices of everyday workers, families, and communities are often drowned out by powerful people and institutions, it delivers straightforward, unfiltered, compelling, relatable stories that resonate with the values of the American public.

    The Populist Bulletin was founded with a fervent commitment to inform, inspire, empower and spark meaningful conversations about the economy, business, politics, inequality, government accountability and overreach, globalization, and the preservation of American cultural heritage.

    The site offers a dynamic mix of investigative journalism, opinion editorials, and viral content that amplify populist sentiments and deliver stories that echo the concerns of everyday Americans while boldly challenging mainstream narratives that serve the privileged few.

    Top Picks

    Kroger layoffs: Grocery giant will slash thousands of corporate jobs as CEO asserts need for ‘faster decisions’

    October 13, 2026

    Character.ai has filed for Chapter 11 bankruptcy protection as it moves to sell assets to Disney

    October 13, 2026

    Graphic design isn’t dying. It’s expanding

    October 13, 2026
    Categories
    • Business
    • Economy
    • Headline News
    • Top News
    • US Politics
    • World Politics
    Copyright © 2025 Populist Bulletin. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.