BROKEN ARROW, Okla. — Gas prices this Labor Day weekend are expected to hit a record high nationally, with the average price projected to reach $4.03 per gallon, according to GasBuddy.
That would surpass the previous Labor Day record of $3.83 per gallon set in 2012 and mark an 87-cent increase over last year's $3.16 per gallon average.
In Broken Arrow Tuesday morning, regular unleaded was running about $3.58 per gallon.
"High prices, high prices," Edilso Loescher said. "I miss when they were, used to be like $2.87."
For Loescher, those prices are already changing his holiday plans. He had hoped to take his kids to the lake this weekend.
"With the high prices we'll just go to the pool," Loescher said.
Patrick De Haan, head of petroleum analysis at GasBuddy, said the record is being driven by global instability that has disrupted oil and fuel markets.
"Gas prices are indeed going to be the most expensive on Labor Day that we've ever seen on Labor Day. Gas prices back in 2012 nationally averaged $3.83 a gallon. This year, the national average is likely to be above 4 dollars," De Haan said.
Conflict involving Iran has threatened traffic through the Strait of Hormuz, a critical corridor for the world's crude oil supply. Drone strikes on Russian refineries have also reduced refining capacity, tightening worldwide supplies of gasoline, diesel and jet fuel. Those disruptions have pushed refining margins to record levels — a dynamic that could keep fuel prices elevated this fall and may push diesel prices to record highs in the weeks ahead.
"New escalations between the US and Iran and escalations between Ukraine and Russia can be very impactful," De Haan said.
"All the metrics, I would say, have gone out the window this year. It's just a lot of volatility and uncertainty. A week ago, I would not have been able to tell you that gas prices are going to surge again or that oil is going to hit $90 today," De Haan said.
The record-setting prices come at a time of year when pump prices typically trend downward. Summer travel demand peaks in mid-July and begins to ease, and refiners switch back to cheaper winter fuel blends after Sept. 15. De Haan said those factors may bring some relief in the weeks ahead — but ongoing geopolitical tensions could delay it.
Here is a look at average Labor Day gas prices over the past five years:
- 2022: $3.79/gal
- 2023: $3.77/gal
- 2024: $3.29/gal
- 2025: $3.16/gal
- 2026: $4.03/gal (projected)
Tips to stretch every tank
FuelEconomy.gov recommends several strategies to get the most out of every fill-up:
- Slow down. For each 5 mph driven above 50 mph, it is like paying an extra 29 cents per gallon.
- Avoid aggressive driving. Rapid acceleration, speeding and hard braking all reduce fuel efficiency.
- Remove excess weight. Every 100 pounds removed improves fuel economy by about 1%.
- Skip the roof cargo box when you can. Large roof-mounted cargo boxes can reduce fuel economy by 6–17% on the highway.
- Avoid excessive idling. Idling burns a quarter to a half gallon of fuel per hour.
- Use cruise control. Maintaining a constant speed on the highway helps conserve fuel.
GasBuddy also recommends drivers shop around for the best prices along their route using the GasBuddy app or similar apps that report current prices at various gas stations.
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
Stay in touch with us anytime, anywhere --
- 2 News Oklahoma on your schedule | Download on your TV, watch for free. How to watch on your streaming device
- Download our free app for Apple, Android and Kindle devices.
- Like us on Facebook
- Follow us on Instagram
- Watch LIVE 24/7 on YouTube
