Labor Day no holiday at gas pumps
Published: Tuesday, September 4, 2012 at 11:00 a.m.
Last Modified: Tuesday, September 4, 2012 at 11:00 a.m.
Motorists paid more for a gallon of gasoline over this past weekend than any other previous Labor Day holiday, according to industry experts, who said prices may dip a bit soon.
In the past 30 days, retail gas prices jumped 30 cents in Florida and Georgia, according to AAA, the Auto Club Group.
The price of a gallon of regular at Gainesville area stations ranged from $3.69 to $3.99 with an average price of $3.80, according to the website GasBuddy.com.
Before this year, 2008 had the highest gas prices during the Labor Day weekend. At that time Florida's and Georgia's state averages were $3.69 and $3.61.
Both domestic and international supply issues, including shutting down some rigs in the Gulf of Mexico as Hurricane Isaac approached, have led to the recent increase at the pump.
Although oil prices remain relatively stable, gas prices continue to increase.
“Hopefully, when Gulf refining picks up again motorists will start to see retail gas prices fall," said Jessica Brady, AAA spokeswoman. "Typically, gas prices start to retreat once Labor Day passes when demand starts to fall and winter blend fuel production begins."
A barrel of oil closed Friday at $96.47 on the New York Mercantile Exchange--32 cents more than the week prior.
The national average price of regular unleaded gasoline is $3.83, an 8-cent increase from a week ago today. Florida’s average of $3.78 increased 4 cents and Georgia’s average of $3.84 rose 14 cents from last week, respectively.