Labor Day is going to see its lowest gas prices since 2004, according to a study released Tuesday by driving-resource app GasBuddy.
Though the national average price for a gallon of gas sits at $2.23 as of Sept. 1 according to AAA, GasBuddy is predicting that will be down to $2.19 by Sept. 7, as demand continues to falter during the coronavirus pandemic.
That would be the lowest price that gas has been on Labor Day since it was $1.82 in 2004.
The figure of $2.19 represents a 37-cent drop in price from Labor Day last year, according to GasBuddy.
Patrick De Haan, GasBuddy’s head of petroleum analysis, said in a news release this will just be the start of good news for motorists.
“(G)as prices will likely continue falling as seasonal factors kick in, reducing demand, and in addition, we switch back to cheaper winter gasoline in just a couple of weeks,” he said.
With gas prices lower, GasBuddy has also predicted a drop in the amount of labor a person needs to do to keep the tank full. GasBuddy estimates the average annual gasoline bill will require 72.3 hours, a 19% decrease from last year.
“Despite the drop in the amount of labor needed to fuel the car, it is sadly juxtaposed with historic unemployment rates,” De Haan said. “Fewer hours of work required to fill a gas tank does not offer much relief for millions of Americans without jobs across the country.”
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