Labor Day Weekend Gas Prices Climb To Highest In Seven Years
Labor Day weekend travelers faced the highest gas prices in seven years.
It’s because of the pandemic and Hurricane Ida.
Gas prices in Florida are averaging $3.02 a gallon. That’s higher than prices this time last year and in 2019, when prices were 58 cents less.
AAA spokesman Mark Jenkins says prices are higher because of the way the coronavirus pandemic has affected supply and demand.
“Last year there were fewer people traveling, driving. So a lot of countries dialed back. They cut back on some of their crude oil production. And that led to less supply in the market, and now this has just come roaring back, I think faster than many producers anticipated.”
Meanwhile Hurricane Ida left nine crude oil refineries offline. Jenkins says gas prices could begin to level off as four have initiated the process of restarting.