UPDATE
Sep 7, 2026 12:30 AM CDT
As expected, the Iran war and refinery issues have pushed fuel prices to a record Labor Day high. The average price of regular gas nationwide was $4.14, more than 30 cents higher than the previous Labor Day record set in 2012, the AP reports. Typically, gasoline prices go down as the summer travel season ends and refineries start producing a cheaper winter blend. Energy Secretary Chris Wright insists the Trump administration is working to bring prices down, though he didn't offer a specific timeline.
Sep 5, 2026 10:10 AM CDT
Travelers hitting the road this Labor Day weekend will be met by something new: a holiday gas tab that's never been higher. GasBuddy analyst Patrick De Haan estimates that the national average will land around $4.03 a gallon on Monday, topping the prior Labor Day record of $3.83 set in 2012, per Reuters; prices were hovering near $4.13 on Thursday. De Haan notes it's the priciest gas that Americans have seen this late in the year, and that the price per gallon has never surpassed $4 on Labor Day.
The news comes as political campaigning for the midterm elections ramps up and gasoline costs loom large as a visible barometer of the economy. The surge is tied largely to supply fears. Crude oil is back above $90 a barrel amid renewed US-Iran military tensions and attacks on Russian refineries, which have squeezed global fuel supplies and pushed up prices for gasoline, diesel, and jet fuel. US refineries are running near full tilt, inventories are well below the five-year August average, and exports of refined products are up more than 10% from last year.
CNN reports that President Trump has been left "scrambling for answers" over gas prices, though he has vowed to bring down energy costs while also urging Americans to tolerate "a tiny little bit more" at the pump to prevent Iran from obtaining a nuclear weapon, per Reuters. For those still willing to fill up, the New York Times has more on what travelers can expect this holiday weekend.
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