Commodities
US Gas Prices Hit Record Highs on Labor Day Amid Ongoing Conflict in Iran
Labor Day has arrived in the US, but it's not a celebration for drivers. Gas prices are expected to reach record highs this weekend, according to data from AAA. The national average is already at $4.14 per gallon, surpassing previous records.
The conflict in Iran has caused oil prices to surge, pushing crude oil costs to over $90 per barrel. This volatility has led to higher gas prices despite a typical decrease in demand during the Labor Day weekend.
Tennessee's average gas price is slightly lower than the national average at $3.81 per gallon. However, this still marks a significant increase from last year's prices. Metro areas across the state are seeing varying prices, ranging from $3.72 to $3.89 per gallon.