Economy

Labor Day gas prices expected to reach three-year low

Labor Day gas prices expected to reach three-year low”

Despite what you may think, one study shows gas prices are actually set to be lower than past year.

You can find the latest gas price trends from AAA here.

Forecasters are predicting a mix of clouds and sunshine along the Oregon Coast over Labor Day weekend, one of the more popular destinations this year according to the association's analysis.

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A major factor in plummeting oil prices is recent troubles in trade relations between the US and China, which Gas Buddy predicts could cause gas prices to dip below the $2 mark in some areas by Thanksgiving.

According to Gas Buddy, the national average gas price on Labor Day will likely be the third lowest in the last 10 years. The price of oil is around $57 a barrel, and though it's up for the week, it's expected to go lower in the weeks ahead. Supplies of gasoline fell by more than two million barrels.

She said she noticed gas prices in her home state of SC were low and wanted to take advantage of them while she could. "In fact, the national average is cheaper week-over-week by three-cents". Arizona was an exception, as prices at the pump jumped by five cents a gallon within that state.



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