MICHIGAN, USA — To cap off a summer of high gas prices, Labor Day weekend costs at the pump are expected to be the highest in seven years, according to GasBuddy.
While prices have been on a downward trend, drivers can expect to pay around 90 cents per gallon more than they did on Labor Day last year. At an average of $3.11 per gallon, the prices are expected to be the highest since 2014.
Last year, pandemic lockdowns resulted in the lowest Labor Day gas prices since 2004. However, travel has surged since the beginning of summer 2021, resulting in the steady rise of prices.
GasBuddy said the recent decrease in prices is due to the rise of the delta variant, the return to school and many companies delaying their return to offices.
“As demand for gasoline has begun to cool with schools reopening and vacation season wrapping up, we’ve seen a small amount of relief at the pump just in time for Labor Day,” said Patrick De Haan, head of petroleum analysis for GasBuddy.
“While COVID continues to have a leading role in gasoline demand and companies plan their return to office, prices may be less predictable than normal. However, seasonality will persist, and that means less gasoline demand as we progress through fall and into winter, and cost savings from the switch back to cheaper winter gasoline in mid-September. We should see more relief at the pump coming the deeper into fall we go.”
According to AAA, current gas prices in Michigan have fallen six cents compared to last week, with Michiganders paying an average of $3.19 per gallon for regular unleaded. This price, according to AAA, is six cents less than this time last month and $1.01 more than this time last year.
Michigan drivers are now paying an average of $47 for a full 15-gallon tank of gas, an increase of about $8 from when prices were their highest last January.
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