Drive on: Lowest Labor Day gas prices in 12 years
Tropical Storm Hermine will soon be in the rear view mirror and low gas prices beckon Georgia travelers to hit the road this holiday weekend.
How low?
The U.S. average retail price for regular gasoline was $2.24 a gallon Monday — the lowest price on the Monday before Labor Day since 2004. The price was 27 cents higher per gallon a year earlier, according to data released Friday by the Energy Information Agency.
And it’s even cheaper in the Southeast: $2.13 per gallon.
Credit low crude oil prices for the cost savings. Worldwide inventories remain high. And U.S. energy companies keep drilling for oil, despite the low prices.
If you can’t make a final summer beach fling or mountain retreat, fear not. The energy agency predicts prices will go even lower — $1.95 a gallon nationwide — during the fourth quarter of 2016.
