Commodities
Labor Day Gas Prices Hit Record Highs in Nevada and Nationwide
Nevada gas prices have surged ahead of the heavy Labor Day travel period, according to AAA. The average price of gasoline in Nevada is $4.91 per gallon, up 10 cents from last week and significantly higher than a year ago when it was $3.83.
The national average has also reached a record high of $4.14 per gallon, surpassing the previous Labor Day record of $3.82 set in 2012.
The spike in gas prices is attributed to continued volatility in the Strait of Hormuz, which has pushed crude oil prices above $90 per barrel.