La­bor Day Wraps Up Sum­mer Travel

The Oakdale Leader - - NEWS -

Con­sumers have seen the most ex­pen­sive sum­mer at the pump since 2014 with an av­er­age of $2.73 per gal­lon thus far, ac­cord­ing to GasBuddy, the only smart­phone app con­nect­ing driv­ers with their Per­fect Pit Stop.

The av­er­age gas price over La­bor Day week­end is ex­pected to be $2.84 per gal­lon, a 20 cent in­crease from La­bor Day 2017.

“It’s been con­sis­tently a more pain­ful sum­mer at the pump than what we’ve been ac­cus­tomed to when com­pared to the last few sum­mers,” said Pa­trick DeHaan, head of pe­tro­leum anal­y­sis at GasBuddy. “With­out ma­jor hur­ri­canes, we should con­tinue to see prices gen­tly de­cline in the weeks ahead as de­mand be­gins to slow into the au­tumn, wrap­ping up the prici­est sum­mer at the pump since 2014, but over­all, with a mod­er­ately less sting than what we saw ear­lier on this decade. Next year may fol­low in this year’s foot­steps with higher La­bor Day gas prices, so what we’re up­set about this year could bring nos­tal­gic mem­o­ries next year. En­joy it while it lasts.”

While gas prices have re­mained high, mo­torists have worked hard to fill their tanks. Taking into ac­count the av­er­age wages across the na­tion from the Bureau of La­bor Sta­tis­tics, the av­er­age Amer­i­can needs to per­form an hour and 48 min­utes of la­bor to earn enough money to fill a tank of gaso­line.

When gas prices were $3.58 per gal­lon dur­ing the sum­mer of 2014, mo­torists had to work two hours and 30 min­utes to fill their tank, and in 2008 when gas prices were $3.84 per gal­lon, mo­torists had to work three hours to fill their tanks.

On av­er­age, mo­torists have also shelled out more than $1.11 bil­lion per day on gaso­line pur­chases this sea­son, up from a decade low of $912 mil­lion per day dur­ing the sum­mer of 2016. This sum­mer’s to­tal fuel bill, while the high­est since 2015, will still be the third low­est since 2011.

While gas prices have re­mained high, there has been re­mark­ably lit­tle move­ment in gas prices through­out the sum­mer, with a dif­fer­ence of just 13 cents between the na­tional av­er­age’s sum­mer (June 1-Sept. 1) low and high. It rep­re­sents the small­est dif­fer­ence between low and high since 2010, when the low and high were just 11 cents apart. The same pe­riod in 2017 saw a dif­fer­ence of 29 cents between the low and high while the dif­fer­ence was 27 cents in 2016. The most volatile sum­mer, 2005, saw a dif­fer­ence of 91 cents per gal­lon – prices dropped as low as $2.08 be­fore surg­ing to $2.99 later in the sum­mer due to Hur­ri­cane Ka­t­rina.

While some have cho­sen to sweat more to pay the higher fuel bill, smart driv­ers have turned to Pay with GasBuddy, which of­fers sav­ings and yearly plans so mo­torists can pay lower prices. To learn more, visit pay.gasbuddy.com.

GasBuddy is a smart­phone app con­nect­ing driv­ers with their Per­fect Pit Stop. GasBuddy is the leader in crowd­sourced in­for­ma­tion to help driv­ers find the best gas prices, clos­est sta­tions, friendli­est ser­vice, clean­est re­strooms, tasti­est cof­fee and much more. GasBuddy is the lead­ing source for the most ac­cu­rate, real-time fuel prices at more than 150,000 gas sta­tions in the U.S., Canada and Aus­tralia.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.