US gasoline price on Labor Day hit a record $4.15 per gallon — OilPrice
In the United States, the average price of a gallon of unleaded gasoline on Labor Day was $4.15 — 30% higher than a year earlier and above the previous 2012 record of $3.83. According to OilPrice, diesel fuel cost $5.90 per gallon, compared with $3.70 a year earlier.
The publication reports that the highest gasoline prices were recorded in California, Hawaii, and Washington state. According to its data, drivers in Utah, Colorado, Montana, Idaho, Wyoming, and North Dakota experienced the largest price increases since the start of the war. OilPrice also writes that due to high fuel prices, drivers reduced travel during the holiday period and canceled plans for long trips in the fall and winter.
Oil prices
According to OilPrice, a new escalation between the United States and Iran contributed to rising oil prices. At the beginning of the week, November-delivery Brent futures traded above $97 per barrel, while WTI traded above $92 per barrel.
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The publication notes that the Islamic Revolutionary Guard Corps said it had struck a U.S. aircraft carrier with Qasem Basir anti-ship ballistic missiles. At the same time, Washington denied that any ships had been damaged. According to OilPrice, Iranian Parliament Speaker Mohammad Bagher Ghalibaf said that U.S. oil and gas companies in the Middle East could become targets if attacks on Iranian tankers and the maritime blockade continue.
Gasoline inventories
OilPrice links the limited global fuel supply, in particular, to Ukraine's attacks on oil refineries of the Russian Federation, an aggressor state. According to the publication, these strikes put approximately 40% of Russia's oil refining infrastructure out of operation, prompting Moscow to halt diesel and gasoline exports and begin importing fuel.
According to the U.S. Energy Information Administration, gasoline inventories in the country fell to 205.7 million barrels in the week ending August 28, 2026. This is below the five-year average for August of 217.6 million barrels. OilPrice also reports record-low fuel inventories at the Amsterdam–Rotterdam–Antwerp hub.
