Fuel prices at record Labor Day high in US thanks to Iran War and refinery issues
Summary
Gas prices in the U.S. have reached a record high for Labor Day weekend, averaging $4.14 per gallon, mainly due to the war with Iran and refinery problems. Diesel prices also hit a record $5.85 per gallon, affecting transportation and increasing costs for consumers.Key Facts
- Average regular gas price for Labor Day weekend 2026 is $4.14 per gallon, nearly $1 higher than last year.
- The previous Labor Day weekend record was $3.82 per gallon, set in 2012.
- Diesel prices hit a record $5.85 per gallon, which affects trucking and freight costs.
- Prices increased after U.S. and Israeli attacks on Iran in February and the closure of the Strait of Hormuz waterway.
- U.S. refineries are running near full capacity but face risks from heat and hurricanes.
- Ukrainian drone attacks on Russian refineries and reduced Chinese refinery outputs are lowering global fuel supply.
- Energy Secretary Chris Wright said the administration is working to lower prices and futures markets expect prices to fall in coming months.
- Consumers can save money by using price apps to find cheaper gas stations away from interstate highways.
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