Expect to see U.S. gas prices increase ahead of the long Labor Day holiday weekend, but higher prices at the pump might not last, analysts said.

"With Labor Day approaching, motorists could see a small swing towards higher gas prices, but any jump should not last past the holiday weekend," Jeanette Casselano, a spokesperson for motor club AAA, said in a statement.

AAA lists a national average retail price for regular unleaded gasoline at $2.84 per gallon, a slight increase from Monday, but 2 cents less than one month ago.

Over the Labor Day holiday weekend in 2017, the price of gas was influenced heavily by the impact of Hurricane Harvey. From Aug. 28 to Sept. 4 last year, the price of gas jumped 28 cents per gallon.

Harvey hit the southern United States and its large concentration of pipelines and oil refineries. With lower oil prices, however, the peak from Harvey last year was $2.67 per gallon.

"Despite no hurricane activity this Labor Day weekend, gas prices will be at their highest point for the holiday since 2014," AAA's weekly retail gasoline price report read.

The West Coast is the most expensive market in the country, with all but Arizona reporting a national average price above the $3 per gallon mark. Hawaii was able to weather Hurricane Lane unscathed, with its state average price of $3.76 per gallon unchanged from last month.

For the region, gasoline inventories declined from the week ending Aug. 10, but are still higher than they were last year and that will help keep the price at the pump in check during the holiday.

The Great Lakes region, meanwhile, is the most volatile in the country, with Ohio setting the bar at a 10 cent increase in the price for gas. At $2.81 per gallon, however, Ohio's state average is about 10 cents per gallon less than Michigan, which has the highest state average in the region.

The spike comes even as the region posts a gasoline inventory level that's close to its highest point for the year.

Consumer gasoline prices typically decline after the Labor Day holiday. After Sept. 15, refiners start making a winter blend of gasoline, which is less expensive to make because there are fewer processing steps necessary compared to the summer blend.

"When refineries finally enter overdue maintenance schedules, expectations are for several weeks of draws in fuel stockpiles that could be supportive of the relatively higher but stagnant prices seen during the past summer," Patrick DeHaan, the lead petroleum analyst for GasBuddy, said in a separate statement.

Related Links
All About Oil and Gas News at OilGasDaily.com

Tweet

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

Iran urges UN court to halt 'economic strangulation' by US
The Hague (AFP) Aug 27, 2018
Iran on Monday demanded the UN's top court suspend US nuclear-linked sanctions against Tehran, accusing Washington of plotting its "economic strangulation". The Islamic Republic launched a suit at the International Court of Justice over US President Donald Trump's decision to reimpose the sanctions that had been lifted in a 2015 accord. Iran says Trump's move breaches a 1955 treaty. Trump says the sanctions are needed to ensure Iran never builds a nuclear bomb. But Iran's representative Mohs ... read more