The Most Expensive Labor Day Ever? Gasoline Prices Surpass $4 and Diesel Hits an All-Time High

Filling up the gas tank for the traditional end-of-summer road trip over Labor Day weekend has never been more expensive in the United States.

According to data from the AAA auto association cited by CBS News, regular gasoline reached $4.14 per gallon on the eve of the holiday and rose to $4.15 on Monday itself, comfortably surpassing the previous record for this time of year, set at $3.82 in 2012.

This is the first time the national average price of gasoline has surpassed the $4 mark during this holiday. At the same time, diesel hit an all-time high of $5.85 per gallon on Friday and climbed another five cents by Monday, directly impacting freight transportation logistics.

Conflict in the Strait of Hormuz and Logistical Pressure

The price surge is largely due to the geopolitical impact resulting from the U.S. and Israeli military intervention against Iran in February, an event that paralyzed crude oil transit through the Strait of Hormuz.

"Everything points to war with Iran and the Strait of Hormuz," explained Tom Seng, professor of energy finance at Texas Christian University.

Adding to this scenario is structural pressure on U.S. refineries, which are operating at 98% of capacity amid extreme weather conditions in areas such as Texas.

Furthermore, Ukrainian drone attacks on Russian facilities and the decline in Chinese refining output have reduced the global supply of diesel and gasoline, according to Matthew Metzgar, an economics professor at the University of North Carolina at Charlotte.

The rising cost of diesel directly affects the trucking fleet and commercial distribution systems. This increase in transportation operating costs is immediately passed on to the end consumer in supermarkets and in e-commerce shipping rates.

Official Projections and the Impact on Household Budgets

During a Sunday interview on ABC's "This Week," Energy Secretary Chris Wright acknowledged the inflationary pressure on drivers compared to the previous year, though he highlighted the medium-term market outlook.

"Yes, prices are higher today, but we are doing everything we can to push them down," Wright said. The official noted that November futures contract prices are trading about 35 cents below current levels, suggesting an expectation of relief at the pumps as the summer season winds down.

Despite the moderation in overall inflation compared to previous years, the surge in fuel prices continues to drain the domestic economy. A Brown University indicator estimates that the rise in diesel and gasoline prices has resulted in an additional cost of more than $741 per household since the start of hostilities with Iran.