🔻CBS report on record gas prices during official U.S. holidays

In a report by the TV network “CBS” on the occasion of Labor Day in the United States—which is one of the busiest official holidays of the country—it said the average price of regular gasoline in the U.S. has reached four dollars and 15 cents per gallon; a figure that is nearly one dollar higher than last year and higher than the previous Labor Day record, namely three dollars and 82 cents in 2012.

Although the current price is still lower than the all-time record of five dollars and two cents in June 2022, this is the first time that gasoline prices during Labor Day holidays have exceeded four dollars.

Meanwhile, according to CBS, the situation with diesel fuel is more worrying.

The average price on that Friday reached the record of five dollars and 85 cents and increased by another five cents by Monday.

Since trucks and cargo transport networks rely on diesel fuel, an increase in the cost of this fuel can lead to higher prices for food materials, the shipping of postal packages, and other goods.

This network cites the war with Iran and the decrease in tanker traffic from the Strait of Hormuz as the main causes of the price surge.

However, other factors have also contributed to this increase: Ukraine’s attacks on Russian refineries, reduced production from China’s refineries, and U.S. refinery operations running at about 98% capacity—a situation that limits the ability to quickly increase production in the event of a hurricane, extreme heat, or other disruptions.