Americans hitting the road this Labor Day weekend will find the lowest gas prices in five years, with pump prices averaging below levels seen since 2020.
The Trump administration is crediting its energy policies for the price drop, which comes as airfares and hotel rates also decline ahead of the holiday weekend.
“Thanks to President Trump fully unleashing American energy dominance, gas prices this summer are at five-year lows and families are saving significant money at the pump,” White House Press Secretary Karoline Leavitt told Fox Business.
Leavitt added that “President Trump ended Joe Biden’s Green New Scam policies and is making America affordable again.”
Energy Secretary Chris Wright echoed the message, saying Trump’s “approach is simple and commonsense: more American energy means lower costs, more jobs, and more prosperity.”
According to GasBuddy, gas prices will hit “the lowest price at the pump on Labor Day since 2020,” and “motorists can expect more relief to arrive in the weeks ahead.”
Nationwide, the average price of gas is projected to hit $3.15 per gallon this weekend. However, in the DFW area, gas prices are trending much lower than the national average, at $2.38 per gallon for regular unleaded, according to OilMonster.com.
Last year, the national average price of gas over the Labor Day weekend was $3.29. It averaged $3.77 in 2023, $3.79 in 2022, and $3.16 in 2021. In 2020, the first year of the COVID-19 pandemic, average gas prices hit a low of $2.22 on the unofficial end-of-summer weekend.
In addition to falling gas prices, the White House reported that hotel rates have dropped by 11% while domestic airfares have fallen by 6%. Car rental costs decreased 3% compared to last year.
The price relief extends beyond gasoline, with the administration pointing to broader economic improvements. Trump has repeatedly promised lower prices, higher wages, and stable inflation as key priorities.
The administration attributes the lower prices to its efforts to boost American energy production. Officials say they’ve worked to reverse Biden-era restrictions on domestic drilling and exploration.
Industry analysts predict prices could drop further this fall. Some forecasts suggest the national average could dip below $3 per gallon in the coming months.
The timing provides relief for millions of Americans planning road trips. Labor Day traditionally marks one of the busiest travel weekends of the year.