Gas Prices Put a Damper on Labor Day
Although we've seen the lowest gas prices of Summer 2018 this week, don't expect it for the holiday weekend. In fact, expect the opposite.
AAA reports that consumer demand for gasoline hit one of its lowest levels this summer last week, according to the Energy Information Administration. While low for summertime, last week’s rate is still robust for the summer, but it indicates that the summer driving season is winding down.
Low demand alongside growing domestic stocks of gasoline could cause pump prices to drop even more slightly in the days leading up to this Labor Day weekend. However, demand is expected to spike around the holiday, leading to a likely, but brief price increase, as drivers take to the nation’s roads one last time before fall arrives.
According to Drive Mode, there is little chance of avoiding traffic ahead of a holiday weekend. That’s probably why so many people choose to leave on Thursday evening after 5 p.m. However, because most people think getting out early will help them out, you are probably better off staying the night and leaving early Friday.
Before you head on the road this weekend with the other 34.7 million Americans nationwide, make sure you leave plenty of extra time for traffic and fill up in advance!