US Gas Prices Soar to Record High for Labor Day Weekend
Gas prices have reached a record high for any Labor Day weekend in the US. The average price of regular gas is $4.14 per gallon, nearly a dollar higher than last year and above the Labor Day weekend record of $3.82 from 2012. According to the AAA motor club, gas prices have never topped $4 per gallon on Labor Day.
The surge in prices started after the US and Israel attacked Iran in February, which led to a decline in crude oil traffic through the Strait of Hormuz. Energy Secretary Chris Wright acknowledged that prices are higher now than last year, but said 'we're doing everything we can to push them down.'
Diesel prices have also reached a record high, hitting $5.85 per gallon on Friday. The increased transportation cost is being passed on to consumers through package delivery services and grocery stores.