Labor Day Gas Prices Down 6% From 2012
Americans will pay considerably less for fuel this weekend than they did last Labor Day. The national average price of gasoline is down 6% or 22 cents since then, a period where hurricanes and refinery shutdowns resulted in higher prices, and diesel fuel costs 4.3% or 18 cents less, according to the U.S. Energy Information Administration.
In California, the region with the greatest decline in prices, drivers are spending 30 cents less on gasoline and 32 cents less on diesel per gallon and the rest of the country is seeing gasoline prices that are nine to 25 cents lower and diesel prices that are eight to 25 cents lower.
In recent weeks, prices have started to creep up by several cents as the United States and its allies announced plans to attack Syria in retaliation for a government-sponsored chemical weapons attack on civilians.
Looking ahead, the Energy Information Administration projects that the national average price for a regular gallon of gasoline will be $3.59 in the quarter that starts tomorrow and $3.52 for 2013, a figure that is 11 cents lower than the average price in 2012. It expects prices to decline further and is projecting an average price of $3.37 per gallon in 2014.
(Photo: Accura Media Group)