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Americans Face Record-High Labor Day Gas Prices as the Administration Addresses Rising Energy Costs

Americans are expected to face the highest Labor Day gas prices on record this holiday weekend, with the national average projected to reach at least $4.03 per gallon. This surpasses the previous record of $3.83 set in 2012. Prices have risen significantly since the start of the Iran war, which has caused crude oil prices to jump over $90 a barrel. Energy Secretary Chris Wright noted that while prices are currently higher than in 2025, the administration is working to push them down. The administration announced several actions this week, including a new oil deal with Venezuela and a flurry of air strikes in response to Iranian attacks on tankers in the Strait of Hormuz. Additionally, the administration eased regulations to speed up fuel deliveries and ended summer-blend gasoline requirements early to cap prices. Diesel prices have also hit an all-time high, reaching a national average of $5.85 per gallon. This surge is driven by a supply shortage and ongoing attacks on Russian refineries. While the administration has taken several steps to address the issue, analysts suggest that significant relief may take years to materialize as refining capacity remains a bottleneck.

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