Labor Day Gas Prices Lowest In 4 Years

By Rachel Martin - 21Alive

Labor Day Gas Prices Lowest In 4 Years

September 1, 2014 Updated Sep 1, 2014 at 6:08 PM EST

FORT WAYNE, Ind. (21Alive) – A break from work and a break at the pump: Labor Day gas prices are the lowest they've been in four years, according to a Fox Business report.

According to Gas Buddy, the national average for an unleaded gallon of gas is $3.43, the lowest since 2010. That’s six cents, give or take a cent, cheaper than what most gas stations in Fort Wayne had posted Monday.

Petroleum analysts with Gas Buddy say the reason for the price is due to low demand, a quiet hurricane season, and the lack of geopolitical tensions in international oil regions.

Gas Buddy claims the highest Labor Day gas price was recorded in 2012, with $3.83 for a gallon of unleaded.

TripAdvisor surveyed 2,600 travelers and found 68 percent of people are driving home from their Labor Day weekend, compared to 26 percent who are flying.

With that in mind, does this "low" Labor Day gas price really make a difference?

"Well they still need to be cheaper because they're still too high!” said Angela while filling up in Fort Wayne.

"I don't feel the effect,” said Bill Fishering. “I don't think it's significantly lower, but I'm so old I can remember when gas was 50 cents.”

"It's hopeful. It's better than paying for premium, I would say. We'll have to make do with what we've got, I suppose,” said Julian Buitrago.

"Around the holidays they really do tend to get up high, so I don't think anything of it. I just work hard, pay for my gas and move on,” said Andrew Johnson.

Gas Buddy lists Indiana and Fort Wayne’s gas price average at $3.50 per gallon.

Analysts say if hurricane season continues to cooperate and tensions stay low overseas, gas prices should continue to decline into the Fall season.

To find the cheapest gas prices near you click on the gas icon on our homepage.




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