Holiday travel and gas prices: Relief at the pump could be on the way

By John Shumway

August 31, 2023 / 6:39 AM / CBS Pittsburgh

PITTSBURGH (KDKA) - Summer's last hurrah is upon us with the Labor Day Weekend and for many, it means a final getaway.

As Americans get ready to hit the road, gas prices aren't doing us any favors, so when will we catch a break?

Not only is it the end of August, it's the end of the summer driving season and that means gas prices are in flux.

Drive to your closest gas station and there's just no telling what you'll be paying.

"Some stations might still be going up, some might be going down," said GasBuddy's Patrick De Haan.

De Haan said for the first time in seven weeks, the price of oil has actually dropped.

"That's allowed the national average to level out and start to decline," he explained.

Remember, though, prices never fall as fast as they climb and it's a holiday weekend.

"Stations may be a little bit slower or reluctant to lower their price knowing that there's gonna be a lot of travelers over Labor Day," De Haan said.

However, come next week, according to De Haan, we're expecting to see prices start to drop.

"Especially when we transitioned to cheaper gasoline," he said. "That's something that happens in just a couple of weeks."

Hurricane Idalia spared the gulf refineries and as long as the rest of hurricane season avoids the area and OPEC stays steady, we're in for relief.

"It's looking more like by the end of the year prices could be lower by end of the year prices could be 25-50 cents lower than where they are today," De Haan explained.

If you're traveling this weekend, wait until the last minute to fill up because your preferred station could drop prices just a bit.

John Shumway joined KDKA in October 1988 as a General Assignment Reporter. During his years at KDKA, he has anchored the morning and weekend news and is currently a featured General Assignment Reporter on the station's 4, 5 and 6 p.m. newscasts.

First published on August 31, 2023 / 6:39 AM