As Labor Day Weekend Starts, Gas Prices Fall to Lowest Level in 16 Years

By Kurt Stolz on 5 September 2020
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As Americans take to the roads this holiday weekend, the pandemic not withstanding, low gasoline prices are fueling more driving than ever.

On Friday, as the Labor Day weekend started, the national average for a gallon of regular gasoline was $2.22, $0.34 lower than last year’s price, according to a survey by the Automobile Association of America.

The average price of premium unleaded is $2.82, while the average price for a gallon of diesel fuel is currently $2.42.

The price per gallon is even cheaper in eight states – Alabama, Arkansas, Louisiana, Mississippi, Missouri, Oklahoma, Tennessee, and Texas – where the average price for regular at the pump is below $2.

The national average is expected to drop several cents to $2.19 on Monday, which would make a gallon of regular cheaper than it has been in over 16 years.

Low prices at the pump are expected to continue throughout the rest of the year, thanks in part to a dramatic decline in demand that has caused a glut of oil and petrol amidst the coronavirus pandemic.

(Photo: Accura Media Group)