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Labor Day Gas Has Never Been This Expensive. Trump Is Scrambling for Answers
Patrick De Haan said this year is the most expensive Labor Day for drivers as oil prices rise amid conflicts in Iran and Russia.
- GasBuddy expects nationwide gas prices to reach at least $4.03 a gallon this Labor Day, surpassing the 2012 holiday record of $3.83 and significantly exceeding last year's $3.16.
- Rising fuel costs stem partly from renewed tensions between the United States and Iran, including attacks on commercial shipping in the Strait of Hormuz that have disrupted global supply.
- Diesel prices have skyrocketed more than 60% this year, while Americans have paid an extra $97 billion in fuel costs since the conflict began, averaging more than $740 per household according to Brown University's Climate Solutions Lab.
- President Donald Trump unveiled a new oil deal with Venezuela and met with refining executives to discuss increasing capacity, though researchers caution Venezuela will not meaningfully boost global supplies until 2035.
- Jan Stuart, global energy economist at Piper Sandler, noted that global refining hubs face crises, as refineries require years and tens of billions of dollars to build, leaving no quick solution for consumers.
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12 Articles
Coverage Details
Total News Sources12
Leaning Left1Leaning Right0Center11Last UpdatedBias Distribution92% Center
Bias Distribution
- 92% of the sources are Center
92% Center
C 92%
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