Gas prices predicted to dip below $2.50 for Labor Day

Gas prices predicted to dip below $2.50 for Labor Day photo Gas prices predicted to dip below $2.50 for Labor Day

More than 35 million people plan to travel over the holiday, marking the fourth consecutive increase in Labor Day travel volume and the highest number of travelers since the recession in 2008, according to a forecast from AAA and research firm IHS.



South Carolina’s state-wide average on Wednesday was is $2.01 per gallon, which was more than a dollar below what it was selling for in 2014.

Despite low gas prices ($2.69 to $2.73 per gallon in Reston, according to Gas Buddy.com), that’s just a 0.4 percent increase from past year.

Across the country, the average price of regular unleaded was reported at $2.47 a gallon, which reflected a 12-cent fall from the week before. The nationwide average is $2.44 per gallon.

A survey by a national travel associations found that the poor road and airport conditions will keep as many as 4.1 million possible travelers at their homes during the holiday weekend, which will cost an estimated $1.3 billion in spending. “And as a result, we have a national average that’s 99 cents lower than a year ago”.

“There are a few things that have been anomalies versus years past”, he said. The pump prices are expected to continue due to the low cost of crude oil. You will be getting your gas at its lowest price since 2004.

If you’re traveling this Labor Day weekend, paying at the pump will be a little easier on your wallet.

Rose White, at AAA-Iowa, says those falling gas prices along with rising wages are helping to boost Iowans’ disposable income – which should lead to a boost in travel for the last vacation of summer. The survey, covering residents of Delaware, Pennsylvania, New Jersey, Maryland, Virginia and D.C., finds that while about 33 percent still used printed maps, more than 55 percent say they use Global Positioning System.

AAA projects another 2.64 million travelers, 40,000 more than a year ago, will fly to their destinations.

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