Fuel Prices Diesel
Chevron gas station prices are displayed in Las Vegas on Thursday, Sept. 3, 2026
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Gas prices in the U.S. have hit a record high for Labor Day weekend, averaging $4.14 per gallon. This is nearly a dollar more than last year and surpasses the previous record of $3.82 from 2012. Prices surged after the U.S. and Israel attacked Iran in February, affecting crude oil traffic through the Strait of Hormuz. Diesel prices are at their own all-time record of $5.85 per gallon. Experts say geopolitical tensions and refinery issues are driving the increases. Drivers can use apps to find cheaper fuel, but broader economic factors make future prices unpredictable.
President Donald Trump says oil prices that spiked because of the Iran war likely won’t come down until after the U.S. midterm elections. Oil prices jumped more than 3% today, pushing international Brent crude past the $100 threshold for the first time since July as salvos between the U.S. and Iran escalated. Trump, in an exchange with reporters before traveling to Dallas for the midterm Republican convention, added that he believes Iran will finally relent after the pivotal elections are held in the U.S.
