Commodities
Gas Prices Soar to Record High on Labor Day
Gas prices hit a record high on Labor Day this year, with the national average reaching $4.15 per gallon, according to AAA.
This marks the highest price ever recorded for Labor Day, surpassing the previous record of $3.82 set in 2012.
The surge in prices is due to a combination of factors, including disrupted oil supplies, refinery pressure, and expensive diesel fuel.
Crude oil accounts for over half of the retail gasoline price, making international petroleum market disruptions feel quickly by American drivers.