US Fuel Prices Hit Record Labor Day Level

Gas prices in the U.S. are at a yearly high, averaging $4.14 per gallon before Labor Day, driven by geopolitical tensions in the Middle East and supply disruptions. The increase follows attacks involving Iran and reduced crude oil flow through the Strait of Hormuz, leading to fears of persistent high prices. While the national average is below the 2022 record, diesel prices have reached a record $5.85 due to global supply constraints. Officials indicate prices may fall in the coming months, but current uncertainties keep costs elevated.

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