WASHINGTON (TNND) -- Gas prices for Labor Day weekend are predicted to hit a four year low with an average cost of fuel projected to be $3.15 per gallon, according to an analysis by GasBuddy.
GasBuddy called 2025 the cheapest summer for travel since 2020, which saw significantly lower gas prices amid the Covid-19 pandemic. During Labor Day weekend in 2020, gas prices were an average of $2.22 per gallon.
"Labor Day marks the unofficial end of summer, and when it comes to gas prices, it's been the cheapest summer to hit the road since the pandemic, a trend that will likely continue with the potential for the national average to fall below $3 per gallon this fall," said Patrick De Haan, head of petroleum analysis at GasBuddy.
This year's Labor Day weekend gas prices are just one cent cheaper than gas prices projected in 2021 which were $3.16. The highest prices within the past nine years were recorded in 2022 and 2023, with average prices recorded at $3.79 and $3.77, respectively.
Typically, gas prices will fall following the end of summer. However, De Haan shared there are some geopolitical and environmental factors that could cause drivers t see higher prices at the pumps.
"We've seen a remarkably affordable summer to hit the road with incomes up and gas prices down, but there are some challenges that remain: hurricane season and uncertainty over trade, tariffs and Russia's war on Ukraine," De Hann said in a statement. "However, I remain optimistic that as cooler weather invades, gas prices too, will seasonally cool off."
For instance, gas prices have surged in Midwest states such as Michigan, Illinois, Wisconsin, Ohio and Indiana after a BP refinery suffered was knocked out of commission due to storm flooding.
"The national average saw a modest increase over the last week after storms temporarily knocked the Midwest's largest refinery offline in Indiana," said Patrick De Haan, head of petroleum analysis at GasBuddy
The Trump administration is celebrating the drop in lowest gas prices since the pandemic, pointing to it being a result of Trump's agenda in "unleashing American energy," an effort to ensure there is more access to natural resources to provide affordable and reliable energy.
"From Memorial Day to Labor Day, Americans have been saving significant money at the pump all summer long with the cheapest gas prices in five years," White House spokesperson Taylor Rogers said in a statement. "President Trump promised to unleashed American energy and make everyday life more affordable for families, and he delivered."