Gas prices continue to rise toward $4 a gallon, and AAA is not anticipating any relief before the Labor Day holiday.
The national average price of gas now sits at $3.72, almost 15 cents higher than this time last year. There is concern that prices could reach the all-time high of $4.11, set in July 2008.
“I know there has been some concern that we could see $4 a gallon (during Labor Day),” AAA spokeswoman Jessica Brady said. “I don’t
think prices will get that high, but I do think they will continue to inch up.”
Georgia’s average is $3.65 per gallon, while South Carolina’s is $3.43.
Earlier in the summer, prices started falling, demand was down and predictions called for a national average of $3 gas by fall. Some areas in the South were already seeing gas for less than $3 at the pumps.
“Once we hit July, it seemed like every factor that could affect prices converged during that month,” Brady said.
Factors including increased sanctions against Iran that went into effect July 1, increased tensions in the Middle East, hurricane season, wildfires in California and a pipeline leak in Wisconsin contributed to the increase in prices.
Last year was the priciest for gasoline at an overall average of $3.54 per gallon, but 2012 is now in competition for the title.
AAA does not expect the high prices to deter Labor Day travel. An estimated 33 million people are expected to travel during the holiday weekend, almost 1 million more than in 2011.