The average person is paying more than $4 a gallon for gas as we get closer to Labor Day, as the seasonal price bump from the switch from summer grades of gasoline would add to what we pay at the pump.
Gas prices were up a tick under 19 cents a gallon in Virginia over the past week, starting the work week at $3.92 a gallon, 86 cents a gallon higher than they were a year ago at this time, per data from GasBuddy.
Diesel is at $5.58 a gallon, up 17 cents a gallon over the past week, and $1.84 a gallon since the start of military attacks on Iran back on Feb. 28.
So. Much. Winning.
“Americans could for the first time ever see a national average price of gasoline above $4 per gallon on Labor Day — eclipsing the previous record of $3.83 per gallon set in 2012,” said Patrick De Haan, the head of petroleum analysis at GasBuddy.
Of note here: De Haan said the geopolitical issues in Iran aren’t the only ones at play in affecting what we’re paying at the pump.
“The dominant force propping up both gasoline and diesel prices is increasingly the growing loss of Russian refinery capacity, as continued Ukrainian attacks knock more facilities offline and constrain the global supply of refined fuels. Until that refining supply picture improves, both gasoline and diesel prices face continued upward pressure,” De Haan said.
Remember how we were promised that the Russian invasion of Ukraine would be dealt with on Day 1?
Yeah, it’s Day 582.
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Chris Graham
