Gas Prices Soar to New Highs Over Labor Day Weekend

US gasoline prices have reached an all-time high during the Labor Day weekend, according to AAA. The national average price of $4.1474 per gallon on September 4, 2026, surpasses the previous record of $3.82 per gallon set in 2012.

The surge in gasoline prices is attributed to crude oil prices hovering around $90 per barrel and ongoing volatility in the Strait of Hormuz.

Diesel prices have also reached unprecedented levels, with a national average of $5.8500 per gallon.

Market analysts suggest that the record-high gasoline prices indicate increased demand and potential supply constraints.