Labor Day Motorists See Higher Prices at Pump

Posted by George Prentice on Sat, Sep 1, 2012 at 9:57 AM

Don’t expect a holiday at the pumps just yet, with gas prices rising slightly Friday, ahead of the long Labor Day weekend. The average price per gallon of unleaded gas in Idaho is $3.76, nine cents higher than just a week ago and 11 cents higher than this time last year.

Nationwide, unleaded gas is averaging $3.80 per gallon.

Oil industry analysts said motorists can point to Hurricane Isaac, fire at a Chevron refinery in California, and worldwide economic instability for the increase.

“We’re in the ninth inning of this,” oil industry analyst Tom Kloza told the Associated Press.

National average gas prices increased 30.8 cents a gallon, or 8.75 percent, in August, the largest monthly increase since April 2011.

The average price of gas in 2012 is $3.62 a gallon, currently on track to be the highest annual average ever. The average price of gas during the previous five years was $3.06 a gallon.

Add a comment