US Gas Prices Soar to Record High Over Labor Day Weekend Amid Iran War

The US is experiencing record-high fuel prices over Labor Day weekend due to various factors. The average price of regular gas was $4.14 a gallon, nearly a dollar higher than last year and above the previous record of $3.82 from 2012.

According to Nicole Collins, who planned to drive from Philadelphia to South Carolina but decided not to because of high gas prices, 'gas is pretty high right now.'

The Iran War in February has significantly contributed to the increase in fuel prices, causing a decline in crude oil traffic through the Strait of Hormuz.

Energy Secretary Chris Wright acknowledged that prices are higher than Labor Day 2022 but claimed that the administration is doing everything it can to push them down. However, some experts predict that gas prices may struggle to drop due to ongoing issues at US refineries and declining outputs from Chinese refiners.