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Gas prices remain stuck at 4-year high for Labor Day



Of course, it's not uncommon for Americans to pay as much or more gasoline on the weekend of Labor Day than they paid on Memorial Day. What's different this summer is how little the cost fluctuates.

"It was a flat line," said Tom Kloza, global head of energy analysis at Oil Price Information Service. "It was like watching grass grow when you look at the national numbers, we did not even see much regional volatility."

Gasoline prices rose only 13 cents between June and August, GasBuddy said. That's the least change in the nationwide average since summer 2010.

The culprit behind the drowsy summer, according to analysts, is an oil market focused on the oil market. US crude oil has ranged between $ 65 and $ 75 a barrel over the past three months. Fortunately, US crude oil did not stay long enough at $ 75 to raise gasoline above $ 3 a gallon, said Patrick DeHaan, Senior Petroleum Analyst at GasBuddy.

But it also did not last long enough in the lower end of the range to make fuel prices much lower.

"Most stories that have pushed up or down the price of oil are being compensated within a few days or weeks," he said. "There was no breakout in both directions."


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