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Low Gas Prices Expected To Boost Labor Day Travel

  

Labor Day weekend travel will be less expensive this year, thanks to cheaper gas prices. Some analysts say prices in the Sacramento area could dip even further over the next three months - by another 50 cents.

Cynthia Harris with AAA says right now, the average price for a gallon of gas in the Sacramento area is $2.98.

"Last year at this exact time, in 2014, gas prices in the Sacramento area were registered at $3.78," says Harris. "So that's almost a dollar less."

Harris says prices are falling because of the global oversupply of crude oil. And she says - now with speculation that the market will receive even more crude from Iran, prices could fall even further.

Patrick DeHaan is an analyst with the gas price tracking firm GasBuddy.

"Ultimately, we could see Sacramento prices by Christmas that are in the low to mid $2.00 a gallon range," predicts DeHaan. "Quite a nice decline coming."

DeHaan says nationwide, the average price for a gallon of gas is $2.44 - the cheapest Labor Day prices in over a decade.

 travelgas prices

Steve Milne

Morning Edition Anchor & Reporter

Steve is the voice of Capital Public Radio News as anchor of Morning Edition and Insight. He covers stories on a wide range of topics including: business, education, real estate, agriculture and music. Steve also produced stories for CapRadio.org.   Read Full Bio