In a statement posted on its website on Tuesday, GasBuddy, which describes itself as North America’s trusted fuel savings platform for more than 25 years, announced the release of its 2025 Labor Day U.S. gasoline price forecast.
According to that statement, GasBuddy is predicting that “average gas prices on the last summer holiday weekend of 2025 will be $3.15 per gallon, 14 cents lower than in 2024, and the lowest price at the pump since Labor Day since 2020”.
“While it will be the most affordable Labor Day weekend to fill up for most in the last five years, gas prices in nearly half of all states have risen in the last month due to localized refinery outages,” GasBuddy said in that statement.
“However, motorists can expect more relief to arrive in the weeks ahead as much of the nation will see the transition back to cheaper winter gasoline in mid-September,” it added.
“Gasoline demand will also soon begin to fall with the conclusion of the summer as motorists take fewer road trips and as temperatures start to cool off,” GasBuddy continued.
In that statement, GasBuddy highlighted that the average Labor Day gas price came in at $3.29 per gallon in 2024, $3.77 per gallon in 2023, $3.79 per gallon in 2022, $3.16 per gallon in 2021, and $2.22 per gallon in 2020.
“Labor Day marks the unofficial end of summer, and when it comes to gas prices, it’s been the cheapest summer to hit the road since the pandemic, a trend that will likely continue with the potential for the national average to fall below $3 per gallon this fall,” Patrick De Haan, Head of Petroleum Analysis at GasBuddy, said in the statement.
“We’ve seen a remarkably affordable summer to hit the road with incomes up and gas prices down, but there are some challenges that remain: hurricane season and uncertainty over trade, tariffs and Russia’s war on Ukraine,” he added.
“However, I remain optimistic that as cooler weather invades, gas prices too, will seasonally cool off,” De Haan continued.
In a separate statement posted on its website on Monday, GasBuddy noted that, for the first time in three weeks, the U.S. average price of gasoline had increased, “rising 3.4 cents compared to a week ago and stands at $3.12 per gallon, according to GasBuddy data compiled from more than 12 million individual price reports covering over 150,000 gas stations across the country”.
“The national average is down 2.1 cents from a month ago and is 18.3 cents per gallon lower than a year ago. The national average price of diesel has decreased 2.0 cents in the last week and stands at $3.651 per gallon,” GasBuddy added.
In that statement, De Haan said, “the national average saw a modest increase over the last week after storms temporarily knocked the Midwest’s largest refinery offline in Indiana, triggering sharp jumps in gas prices across Ohio, Wisconsin, and Michigan”.
“We could soon see prices cycle higher in Illinois and Indiana as well, although there’s been some late-week relief in wholesale prices now that the refinery is restarting,” he added.
“Meanwhile, Florida saw the nation’s largest weekly decline, but a rebound due to price cycling is likely on the horizon. All of this is playing out while oil prices remain relatively stable in the low $60s,” he continued.
“With no major hurricanes threatening the U.S. at the moment, the biggest wildcard remains any shifts in Russia’s war on Ukraine. For now, expect only moderate gas price fluctuations, with the potential for lower prices arriving later this fall,” De Haan went on to state.
In its latest short term energy outlook (STEO), which was released on August 12, the U.S. Energy Information Administration (EIA) projected that the U.S. regular gasoline retail price will average $3.12 per gallon in the third quarter of 2025, $2.91 per gallon in the fourth quarter, and $3.07 per gallon overall this year.
Observed the first Monday in September, Labor Day is an annual celebration of the social and economic achievements of American workers, the U.S. Department of Labor website states.
“The holiday is rooted in the late nineteenth century, when labor activists pushed for a federal holiday to recognize the many contributions workers have made to America’s strength, prosperity, and well-being,” the site adds.
To contact the author, email andreas.exarheas@rigzone.com
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