Pump Prices on the Rise Ahead of Labor Day

Gas prices are rising heading into Labor Day weekend due to higher crude oil prices and various refinery issues.

For the week, the national average for regular unleaded jumps four cents to $2.22 a gallon. The Oregon average adds two cents to $2.46, according to AAA Oregon/Idaho Public Affairs Director Marie Dodds.

“Despite the increases, pump prices are 25 to 45 cents a gallon less than a year ago and are on track to be the cheapest for Labor Day since 2004,” Dodds said.

According to a AAA survey, 55 percent of Americans say they are more likely to take a road trip this year due to lower gas prices. OPIS (Oil Price Information Service) projects that Americans will purchase about 400-million gallons of gasoline each day over Labor Day weekend, at an aggregate cost of about $880 million per day.

Labor Day is seen as the final chance for a long weekend getaway before the summer comes to an end, and generally sees the lowest travel volume of the three major summer holiday weekends. Over the last decade, travel over the Labor Day holiday weekend has remained relatively stable, with approximately 35 million Americans traveling 50 miles or more from home each year. In the Pacific Region (AK, CA, HI, OR, WA), about 5 million people typically travel. This compares to roughly 38 million Memorial Day and 43 million Independence Day travelers this year (6 million and 6.5 million in the Pacific Region, respectively).

Prices on the West Coast remain the most expensive in the nation, including the top five most expensive state averages: Hawaii, California, Washington, Alaska and Oregon. Oregon moves up to fifth after three weeks at sixth.