Two Fuel Records Fell During Labor Day

(Undated) — Labor Day brought record-high gas prices. GasBuddy Head of Petroleum Analysis, Patrick De Haan, says the milestone many hoped to avoid has arrived; the national average price of gasoline on Labor Day set a new record for the holiday, eclipsing the previous mark of $3.83 per gallon set in 2012. Diesel’s record fell as well, with the national average reaching $5.87 per gallon on September 3, surpassing the prior all-time high of $5.82 per gallon set in 2022. He says $6 per gallon is now a realistic possibility in the weeks ahead if Ukraine’s continued attacks on Russian refining infrastructure keep knocking capacity offline. DeHaan says these are sobering milestones, and until the global refining supply picture “meaningfully improves,” diesel prices face continued upward pressure while gasoline may seasonally slow in the weeks ahead.