Gas prices for the labor day holiday weekend were the lowest in more than a decade.
Inside Energy’s Dan Boyce has more…
Figures from the US Energy Information Administration show the last time gas prices were this low for Labor Day was 2004.
The national average of $2 dollars and 50 cents a gallon is almost a full dollar lower than last year at this time. That national average is about what North Dakota drivers are paying.
The EIA says those prices are staying low due to higher oil supplies the US and other oil superpowers continue pumping out. But they also reflect concerns about economic growth in emerging markets around the world, like China. And there are expectations of even more oil entering the export scene--this time from Iran--part of the proposed nuclear deal with a collection of world powers including the US.