Walnut Creek Motorists Face Record-High Gas Prices This Labor Day
Walnut Creek residents planning Labor Day road trips can expect record-high gas prices this year. According to GasBuddy, the average price for a gallon of regular gasoline is projected to be $4.03, surpassing the previous record of $3.83 per gallon in 2012. This is 87 cents higher than last year's Labor Day gas prices.
The cheapest prices for a gallon of regular gasoline in Walnut Creek were around $5.42 on Tuesday, while AAA reported an average price of $4.09 per gallon for regular gas in California. Nationally, gas prices averaged $4.10 a gallon on the same day.
The global oil market is experiencing volatility due to several factors, including the war in Iran and the blockage of the Strait of Hormuz, which has squeezed global oil shipments and kept 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 said that historically, Labor Day gas prices have 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. However, this year's prices are expected to be higher due to the uncertainty over global tensions affecting crude oil availability.
Patrick De Haan, head of petroleum analysis at GasBuddy, noted that 'it's been a challenging year for motorists' and that relief may lie ahead if tensions ease.