Pump prices are climbing in many states in the wake of Hurricane Laura which hammered the Gulf Coast last week, and also due to an increase in demand to one of the highest measurements of the year as the Labor Day holiday approaches. For the week, the national average jumps four cents to $2.23 a gallon.
The Oregon average holds steady at $2.67.
Drivers will pay the cheapest prices for gas over the Labor Day holiday in four years. In 2016, the national average was $2.20 and the Oregon average was $2.46 on Labor Day.
Demand for gasoline is at its highest mark of the summer but remains below year-ago levels.
“We often see regional increases in demand and more expensive gas prices ahead of a storm, especially a hurricane that threatens rigs and refineries in the Gulf of Mexico,” says Marie Dodds, public affairs director for AAA Oregon/Idaho. “Demand is also up as travelers take to the roads for a late summer getaway. With Labor Day this weekend, the vast majority of travelers will go by car. Auto travel has been the most popular way to go during the coronavirus pandemic. AAA expects gas prices will again push cheaper in the coming weeks as demand drops off in the fall and facilities in the Gulf start up again.”
Demand will likely remain relatively robust leading up to the Labor Day holiday as people take road trips to mark the unofficial end of the summer. AAA says a whopping 97 percent of people who are traveling this summer are going by car, and most are visiting destinations that are fairly close — about a day’s drive — from home.
