Lake Forest Braces for Record-Breaking Labor Day Gas Prices
Record Labor Day gas prices are expected to hit Lake Forest residents hard this year. According to GasBuddy, the average price for regular gasoline on Labor Day will be $4.03 a gallon, 87 cents higher than last year and a new record high, surpassing the previous record of $3.83 per gallon in 2012.
The war in Iran and blockage of the Strait of Hormuz have squeezed global oil shipments, keeping crude costs elevated. Ukrainian drone strikes on Russian refineries have also knocked millions of barrels of processing capacity offline, tightening supplies of gasoline, diesel, and jet fuel worldwide.
GasBuddy's Patrick De Haan stated that 'it's been a challenging year for motorists, with constant ups and downs at the pump that stayed elevated into this final summer holiday,' but noted that relief may lie ahead if tensions ease. Labor Day gas prices have historically averaged $3.79 per gallon in 2022, $3.77 per gallon in 2023, $3.29 per gallon in 2024, and $3.16 per gallon in 2025.
GasBuddy recommends finding the cheapest gas in town at the Ralphs Station on 22391 El Toro Rd in Lake Forest. AAA puts the average price for regular gas in Orange County at $5.74 per gallon.