Labor Day gas prices are expected to be at the lowest they’ve been in the last 11 years.
The average gas price for the United States was sitting at $2.44 a gallon on Thursday, which is more than one dollar less than prices this time last year. Prices are expected to continue to drop after Labor Day and going into Christmas and some states in the South are already seeing gas at $2 a gallon, reports USA Today.
Aiding the low labor Day gas prices is the recent repair of a BP (BP) refinery in Indiana. The refinery had to shut down in August and was fixed late into the month. Gas prices will start falling even further in September after maintenance on refineries end, USA Today notes.
Gas prices will also be dropping after Labor Day when the switch to winter fuel is made. Winter fuel is cheaper to make than summer fuel and this savings will likely be passed on to the customer.
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