US Gas Prices Soar to Record Highs Ahead of Labor Day Weekend

Americans are facing record-high gasoline prices for Labor Day weekend, with the national average price expected to hit $4.03 per gallon. This surpasses the previous record of $3.83 set in 2012, according to GasBuddy analyst Patrick De Haan.

The high prices are largely due to ongoing concerns about disruptions to energy shipments through the Strait of Hormuz and attacks on Russian refineries. Crude oil prices have jumped back over $90 a barrel this week, contributing to the rise in gasoline costs.

For many consumers, the pain point is around $4 per gallon, which can quickly shape perceptions of the broader economy. President Donald Trump has pledged to lower energy costs and has stepped up criticism of refiners and fuel retailers for profiting from elevated pump prices.