Pain at the pump as gas prices hit the HIGHEST seasonal level in a decade: Average price stands at $3.811 a gallon
- The national average for a gallon of gasoline stands at $3.811, AAA data shows
- The move is significant as it comes at a period when prices historically decline
- Data shows 2023 to by atypical in this case, with the $3.811 average marking the second-highest September level in AAA records that go all the way back to 1994
Gas prices are now at their highest seasonal level in more than a decade – following a surprise rally toward the end of the summer driving season.
The national average for a gallon of gasoline stands at $3.811 as of September 5, data from the American Automobile Association shows – topping fuel costs from this time last year by a full three cents.
The price has not been higher at this time of year since September 2012 when filling up at the pump hit $3.84 per gallon amid concerns about supply disruptions from the Middle East.
The seasonal high this year is significant because it strikes at at a time when gas prices generally decline as summer gives way to fall and people drive less. In addition, it comes on the heels of a surprisingly cheap summer despite travel seen on the Fourth of July – which historically pushes prices up.
An extension to production cuts by major producers Saudi Arabia and Russia on Tuesday further ensnared an already tightened global supply, and seemed to have an almost instant affect.