Labor Day gas prices reach record highs for the holiday

3:16 PM, Sep 3, 2012   |    comments
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Video: Labor Day gas prices reach record highs for the holiday



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Tampa, Florida -- Labor Day  brings some good news and bad news. The good news is, you are likely off from work today.

The bad news...if you are planning on driving anywhere, you'll be paying more for gas than any other Labor Day Holiday.

Gas prices surged about 30 cents over the last 30 days according to AAA.

Click: Find the lowest gas prices in Tampa Bay

Today, the average price for a gallon of regular gas in the Tampa Bay area is $3.75. The statewide average is slightly higher at $3.78. The national average is $3.82.

AAA says you can blame domestic and international supply issues. Hurricane Isaac led to the evacuation of several oil rigs in the Gulf and the shut down of refineries.

"Hopefully, when Gulf refining picks up again motorists will start to see retail gas prices fall," said Jessica Brady, AAA spokeswoman, "Typically, gas prices start to retreat once Labor Day passes when demand starts to fall and winter blend fuel production begins."

An expert with the Oil Price Information Service predicts prices could fall by as much as 20 cents over the next month.

Despite the record highs at the pump, more people will be driving this Labor Day holiday.

AAA estimates 28.2  million people will drive to their Labor Day destinations this year, an increase of 3.1% from last year.

AAA attributes the increase in road travelers to a  boost in consumer confidence.


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