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Labor Day Gas Prices to Break Record Highs before Dropping in September
• AAA predicts that the national average price of gasoline for Labor Day this year will be the highest ever for the holiday. Prices should drop in September as Gulf Coast refineries closed by Hurricane Isaac resume operations, as gasoline demand decreases following the end of the summer driving season and as refineries transition to the production of less-expensive winter-blend fuels. • "People traveling this Labor Day are going to face the most expensive pump prices we have ever seen for this time of year," said Buskohl. "While prices should drop in September barring any major developments, we expect gasoline to remain at or near-record highs for the time of the year through the end of 2012." • The national average price of gasoline on Labor Day over the previous five years was $3.08 a gallon. Despite record-high gas prices, AAA predicts that 33 million Americans will travel 50 miles or more this Labor Day weekend with approximately 28.2 million of those travelers taking their trip by car. • Historically, national gas prices in September have decreased five out of the previous ten years with prices declining an average of 7.4 cents in September since 2002. The average price of gasoline in September over the previous five years is $3.07 a gallon.
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