Labor Day gas prices hit their lowest price in 3 years, and they could get lower

The Labor Day weekend is here and many people across metro Detroit are packing up and heading out. A major concern for travelers are gas prices.

I caught up with some motorists at a local gas station to hear their thoughts on how they're feeling at the pump. First, I had to know what's on the menu.

“Do you know anything about what you’re cooking?" I asked Robert Warmack.

"Uh, let me see, hot dogs, hamburgers, sausages," Warmack said.

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Nick King said he's staying home for Labor Day, but he's got fresh fish on the menu.

“Fresh caught lake trout that the neighbors caught," Nick King said.

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“Ribs and chicken wings. So, anything else, my lady can decide," Darnell Ash said.

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“I may barbecue. Yeah, I may barbecue and have a cold beer," Crystal Roe added. “Mac and cheese in the oven. Oh, and baked beans of course.”

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But food isn't the only thing on peoples' minds. Whether or not to travel is also important.

The King family is staying put for the holiday weekend.

"I don’t know. It’s just that I like staying around the house with my friends and family," Sebastian King said.

But many others will travel. AAA said an estimated 17 million people will pack up and leave, up 9% from last year. That includes Ash. His No. 1 concern is gas prices.

“Last year, it was really a big deal last year. Yeah, it was just like it was, everybody was complaining about it. But now, you can see it going down. You can see the difference," Ash said.

Nick King sees it going down, too. Especially with his car taking diesel.

“Last year, it used to be higher. It was in the $4 range. So, $3.79 here is good. Sometimes, you see it at $3.50 which is, if it’s close to regular gas, it’s a treat," he said.

GasBuddy Senior Petroleum Analyst Patrick De Haan said he's seeing a downward trend heading into Labor Day. He said the cost of regular unleaded gas across metro Detroit averages $3.45 per gallon, down 26 cents from July and 31 cents last year.

“Gasoline demand starts to decline as schools reopen in August. And, we’re also a little over two weeks away from also switching back to cheaper winter gasoline. So, while it’s fairly good news for Labor Day, gas prices have declined to their lowest levels since Labor Day of 2021. The good news probably won’t stop. That is, gas prices this fall could get closer to that sub three dollar a gallon mark," De Haan said.

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De Haan said he believes the average price of gas could fall below $3 per gallon sometime between late October and November.

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