Hopes that large governments will stimulate their economies and renewed worries about Iran have pushed WTI crude prices back near $100. Gas prices have risen most days in the past six weeks. As the Labor Day weekend is just a few days away, the price on average of a regular gallon of gas nationwide has risen to $3.730, according to measurements taken yesterday for the AAA Fuel Gauge. That is up from $3.716 a week ago and $3.485 a month ago. In some parts of the nation, gas prices have risen 10% in the past 30 days.
Drivers will pay a good deal more than they might have expected a month ago as they go on Labor Day trips. And, if money is as tight as most economist believe, these drivers will not be in a mood to spend when they return.
Douglas A. McIntyre