Labor Day gas prices expected to be lowest since 2004

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It’s been more than a decade since gas prices have been this low for Labor Day weekend.

The average price rose to $2.23 on Thursday, up from a week ago but below the 2019 national average of $2.57 for the holiday weekend.

GasBuddy expects gas prices to drop to $2.19 per gallon on Monday—the lowest Labor Day price since $1.82 in 2004. It would be just under the previous low this decade, $2.20 for Labor Day in 2016.

“With Hurricane Laura now behind us and many refineries returning to service, gas prices will begin to head lower just in time for the Labor Day weekend,” the company said in a statement.

GasBuddy expects gas prices to continue the downward trend, with reduced demand for the winter and a switch to the cheaper winter blend.

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