Gasoline Prices Heading Below $2 a Gallon
GAITHERSBURG, Md. — Americans who hit the road this Labor Day weekend are likely to see the lowest Labor Day prices at the pump in more than a decade. The savings could total $1.4 billion Friday through Monday.
“August gasoline prices plummeted by 18 cents per gallon, the greatest decrease since 2008,” said Patrick DeHaan, senior petroleum analyst at GasBuddy.com. “As a result, we have a national average that’s 99 cents lower than a year ago, $2.44 versus $3.43.
In Ohio, the price per gallon was $3.25 last year compared to $2.25 this year. In Pennsylvania, the respective costs are about the same.
Currently, GasBuddy identifies as many as 19 states with 8,060 stations combined where at least one retail outlet is selling gasoline for less than $2. Nationally, prices stand about 21 cents less than a month ago.
Motorists in the South will enjoy the lowest prices, with 68.4% of stations in South Carolina at $1.99 or less.
Copyright 2023 The Business Journal, Youngstown, Ohio.