Gas Prices at an 11-Year Low for Labor Day Weekend

Gas Prices at an 11-Year Low for Labor Day Weekend

A customer prepares to fill up his tank in a gasoline station in Nice December 5, 2014. REUTERS/Eric Gaillard
Eric Gaillard
By Millie Dent

Drivers will be paying less at the pump as we head into one of the largest travel weekends of the year. Gas prices over Labor Day weekend haven’t been this low since 2004. 

The national average price of gas is currently $2.44 per gallon, 99 cents less than this time last year, according to AAA. The average consumer can expect to save $15 to $25 on each trip to the gas station.

Related: 6 Reasons Gas Prices Could Fall Below $2 A Gallon

AAA estimates that 35.5 million people are planning to travel this weekend, a 1 percent increase from last year. The majority of travelers, 30.4 million, are expected to drive to their destinations, a rise of 1.1 percent from last year. 

Gasoline prices are moving lower thanks to the falling price of crude oil. Oil has been hit by worries over economic growth in emerging markets, Iranian oil flooding the market and crude oil inventories rising due to economic and weather factors, a U.S. Energy Information Administration report finds.

For drivers, there’s more good news ahead. AAA expects gas prices to keep falling, with gas selling for $2 or less a gallon by Christmas in many parts of the U.S.

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Number of the Day: $213 Million

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The controversial program, which empowers private firms to go after delinquent taxpayers, began in 2004 and ran for five years before the IRS ended it following a review. It was restarted in 2015 and ran at a loss for the next two years.

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See the lawsuit here, or read more at The New York Times.

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Dr. Benjamin Hoffman speaks with Nancy Minoui about 9 month old Marion Burgess, who suffers from a chronic heart condition, at an appointment at the Dornbecher Children's hospital in Portland
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Between December 2017 and July 2019, enrollment in Medicaid and the Children's Health Insurance Program (CHIP) fell by 1.9 million, or 2.6%. The Kaiser Family Foundation provided an analysis of that drop Monday, saying that while some of it was likely caused by enrollees finding jobs that offer private insurance, a significant portion is related to enrollees losing health insurance of any kind. “Experiences in some states suggest that some eligible people may be losing coverage due to barriers maintaining coverage associated with renewal processes and periodic eligibility checks,” Kaiser said.