INDIANA – Motorists have made it to the final saga of a summer travel season characterized by record-breaking high gas prices, but drivers may not feel the relief at the pump they’ve been hoping for quite yet. The cost to fill up a tank on Labor Day will drop slightly but remain over 90¢ per gallon higher than 2020, and 30¢ per gallon higher than 2019.
Last year, we saw the lowest Labor Day gas prices since 2004, with pandemic lockdowns still in place in some parts of the country. Prices have been steadily increasing since the beginning of summer 2021, as the confidence to travel surged, demand for gasoline soared and Americans hit the road for summer vacations. However, due to the Delta variant sweeping the nation, the return to school, and many companies delaying their return to offices, gas prices in recent weeks have begun to drift lower.