Labor Day Gas Prices on Track to Be Cheapest in Three Years
ORLANDO, Fla. — This year's Labor Day weekend is likely to be the cheapest in three years.
The national gas price average is $2.59 as of Aug. 26, which is nearly a quarter per gallon cheaper than 2018 ($2.83) and 4 cents cheaper than 2017 ($2.63), reported AAA.
Some states may see gas prices rise by a few cents ahead of the holiday weekend, but such increases are expected to be short-term.
"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," stated 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."
The 10 states with the largest yearly price decreases are: Idaho (43 cents), Louisiana (38 cents), Indiana (38 cents), Florida (36 cents), Kentucky (35 cents), Delaware (35 cents), Utah (35 cents), Mississippi (35 cents), Alaska (34 cents) and Oklahoma (34 cents).
In the Mid-Atlantic and Northeast, North Carolina saw the weekly average price drop as much as 5 cents, but compared to one year ago, drivers in these regions are saving at least 19 cents per gallon. Current prices range from $2.29 to $2.79 vs. $2.59 to $3.03 in 2018.
Multiple states in the South and Southeast saw prices fall to or below the $2.25 per gallon mark, with Mississippi ($2.20), Louisiana ($2.20), Alabama ($2.23) and South Carolina ($2.23) seeing the overall lowest gas prices in the United States. The region is also likely to see prices fall to $2 per gallon or less this fall, as Convenience Store News previously reported.
Indiana saw the largest double-digit price decline in the Great Lakes and Central states, falling 10 cents week over week, while Michigan was one of only two states in the country to see a price increase. However, all states in the region are averaging annual savings of 20 cents or more with the exception of Illinois, which has an average price 13 cents lower than one year ago.
In the Rockies, gas prices fell 1 to 3 cents, and while Utah ($2.85) and Idaho ($2.82) are in the list of top 10 most expensive states for the week, they are also in the top 10 list for largest yearly changes, with prices declining 43 and 35 cents, respectively.
On the West Coast, drivers are paying the highest prices overall. All states in the region appear on the top 10 most expensive list, with Hawaii ($3.64) and California ($3.57) leading the way. However, all states but Arizona also saw prices drop up to three cents on the week.
The current top 10 most expensive markets in the country are Hawaii ($3.64), California ($3.57), Washington ($3.21), Nevada ($3.13), Oregon ($3.05), Alaska ($3.00), Utah ($2.85), Idaho ($2.82), Arizona ($2.81) and New York ($2.79).
AAA is a not-for-profit organization that provides its members with travel, insurance, financial and automotive services and information.