RALEIGH, N.C. (WNCN) — If you are planning a road trip this Labor Day weekend, plan on paying more for gas.
Normally, this time of year we see gas prices begin to drop as we approach the fall but this has not been a normal year.
Gas prices are going to be no bargain this Labor Day, according to those who track these things.
“Labor Day this year is likely to be virtually identical to what motorists were paying last year,” said Patrick DeHaan of GasBuddy.
AAA says gasoline will average $3.82 a gallon nationwide, that’s close to what we paid last year when we paid $3.78 a gallon on average nationwide.
Why the continued high prices? A couple of things are at play.
Saudi Arabia cut production in order to keep their profits high. Then there was the heat which blanketed much of the south. It affected the output of refineries.
Once we get by the Labor Day travel period, gasoline demand should drop a bit and in the coming months, we should start to see prices fall again.
“I do think that the trend will remain downward for the potentially the next few weeks, especially as we get into mid and late September, “ said Dehaan. “That’s when a combination of the transition back to cheaper winter gasoline and falling gasoline demand should pave the way for lower prices.”
Barring any unforeseen issues, GasBuddy believes gas prices could fall as much as 35-to-50 cents a gallon by the end of the year, barring any major environmental or political issues that could affect the world situation.