Thank you, Trump!
Over the holiday weekend, gas prices are projected to hit their lowest levels since Labor Day 2020, according to GasBuddy’s annual Labor Day price forecast.
Labor Day gas prices averaged $2.22 a gallon in 2020, $3.16 in 2021, $3.79 in 2022, $3.77 in 2023, and $3.29 in 2024.
And this weekend, according to GasBuddy, they’re projected to be at $3.15 a gallon.
“Labor Day marks the unofficial end of summer, and when it comes to gas prices, it’s been the cheapest summer to hit the road since the pandemic, a trend that will likely continue with the potential for the national average to fall below $3 per gallon this fall,” explained Patrick De Haan, who heads petroleum analysis at GasBuddy.
“We’ve seen a remarkably affordable summer to hit the road with incomes up and gas prices down, but there are some challenges that remain: hurricane season and uncertainty over trade, tariffs, and Russia’s war on Ukraine,” he added. “However, I remain optimistic that as cooler weather invades, gas prices too will seasonally cool off.”
The White House is celebrating the news, noting that it fulfills President Donald Trump’s promise to bring down the rising costs of living for many Americans.
“From Memorial Day to Labor Day, Americans have been saving significant money at the pump all summer long with the cheapest gas prices in 5 years,” White House spokeswoman Taylor Rogers told The Daily Wire.
“President Trump promised to unleash American energy and make everyday life more affordable for families, and he delivered,” she added.
Though GasBuddy predicts that it will be the “most affordable Labor Day weekend to fill up for the most in the last five years,” the fuel savings platform also says that gas prices in many states have risen over the past month “due to localized refinery outages.”
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