Day 63 · U.S.-Iran Regional Conflict

U.S. Labor Day Gas Hits Record

Iran fighting and refinery problems drove U.S. fuel prices to a record Labor Day high.

Balanced from 11 sources

5 left4 center3 right

Updated Sep 7, 5:21pm ET

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U.S. regular gasoline averaged $4.15 a gallon on Labor Day, after $4.14 entering the holiday weekend, the highest Labor Day price recorded by AAA. The price was nearly $1 above last year’s level and exceeded the previous Labor Day record of $3.82 set in 2012, while diesel reached an all-time high. AAA said nearly 40 million Americans were expected to drive over the holiday. Crude oil hit a nearly six-week high as U.S.-Iran strikes intensified near the Strait of Hormuz, with refinery issues also tightening fuel supplies.

Analysis & opinion

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Bessent MissedMostly Left

Scott Bessent’s prediction that gas prices could fall back to $3 by Labor Day was plainly wrong. The failed forecast looks especially embarrassing because prices remained far above what he promised.

Daily Beast
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