Labor day drivers get relief after reduced gas prices for the 79th consecutive day

• AAA: National average gas price is $3.81 per gallon.
• That compares with $4.20 one month ago.
• The average price is likely to fall even lower from here, an analyst says.

The national average price per gallon has dropped to its lowest level since March as gas prices have now fallen for 79 straight days due to dropping oil prices globally.

For American drivers, the situation is unequal as the big Labor Day weekend approaches since some towns and states continue to have gas prices above $4 per gallon.

According to AAA data, the average gas price nationwide is currently $3.81 per gallon. Although it is lower than the $4.20 price from a month ago, it is still significantly higher than the $3.18 price from the same period last year.

Prices on the West Coast are far higher than those nationwide, with Los Angeles drivers paying the highest Labor Day gas prices ever, according to the Los Angeles Times, at $5.25 per gallon.

Western states typically have higher gas taxes and are farther distant from the major centres for the processing of fuel in Louisiana, Texas, and Oklahoma. Gas prices are about a $1 higher than they were on Labor Day last year in Illinois, which has among of the highest gas taxes in the country; the state average is currently $4.14, according to AAA.

Due to limited gasoline supplies, northeastern states are also seeing increased costs. On Friday, the typical price in New York was $4.06.

Nevertheless, Andy Lipow, owner of Lipow Oil Associates LLC, predicted in a note to clients that the national average gas price would likely drop even further from here as the price of oil continues to decline. According to him, the rest of the continent’s oil consumption has fallen dramatically as a result of Russia’s conflict with Ukraine.

There are growing concerns about a global recession that could start in Europe and spread, the author said.

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