New York Gas Prices Surge After Breaking Labor Day Records

Did you notice gas prices jump again? New York drivers are coming off a record Labor Day, and prices are still climbing.

Gas Prices Set Labor Day High

Gas prices in the United States reached a record Labor Day high, with the national average hitting $4.14 per gallon. That's nearly $1 more than what Americans paid per gallon last Labor Day.

Not only did it set a Labor Day record, but it also shattered the previous record. The previous high was $3.82 a gallon in 2012.

Gas Prices Increase After Record Labor Day

Gas prices remain high with the long holiday weekend now in the rearview mirror. On my drive into work today, I noticed prices jumped about 10 cents in the past 24 hours.

For all the news that the Hudson Valley is sharing, make sure to follow Hudson Valley Post on Facebook, and download the Hudson Valley Post Mobile App

According to AAA, the current average price for a gallon of regular gas in New York is now $4.33 a gallon.

Why Gas Prices Continue To Skyrocket Across New York State

1. Tensions Overseas Threaten Upstate New York Oil Supply

Military actions in the Middle East have crippled shipping through the Strait of Hormuz, driving crude oil past $90 a barrel. With Iran refusing to open the critical waterway, fuel costs are surging fast, leaving drivers across New York State bracing for severe pain at the pump.

2. Extreme Heat Threatens Major Refineries Serving New York

U.S. oil refineries are running at 98 percent capacity while battling relentless summer heatwaves across Texas. If these overloaded systems go offline, fuel shipments heading straight to New York State could instantly dry up, forcing prices even higher.

3. Global Chaos Forces Energy Shortage Threatening New York

It isn't just the Middle East causing panic for Hudson Valley drivers. Relentless drone strikes on Russian energy plants and dropping output from Chinese refiners have choked off global supplies, creating a massive fuel crisis that is hitting New York State hard.

LOOK: See how much gasoline cost the year you started driving

To find out more about how has the price of gas changed throughout the years, Stacker ran the numbers on the cost of a gallon of gasoline for each of the last 84 years. Using data from the Bureau of Labor Statistics (released in April 2020), we analyzed the average price for a gallon of unleaded regular gasoline from 1976 to 2020 along with the Consumer Price Index (CPI) for unleaded regular gasoline from 1937 to 1976, including the absolute and inflation-adjusted prices for each year.

Read on to explore the cost of gas over time and rediscover just how much a gallon was when you first started driving.

Gallery Credit: Sophia Crisafulli

High Gas Prices Might Be Good For New York

Gas prices continue to rise to unprecedented levels across the country, and while most people are right to think that is a very bad thing, there could be some good news when it comes to higher gas prices.

Gallery Credit: Dave Fields