Gas prices drop for Labor Day, still up 50 cents from last year

Gas prices in the Raleigh-Durham area neared $5 a gallon in July, the highest ever reported.

Finally, gas prices began dropping after that, and on Aug. 11, the national average price for a gallon of gas dropped below $4.

Any event that would lead to an outage at an refinery — like a hurricane — could push gas prices right back up.

"If we see a major hurricane, say something that's stronger than a Category 3, targeting an area between New Orleans and Houston, that's not going to lend well for prices," said Patrick De Haan, expert with Gas Buddy. "But not every hurricane is going to get prices moving."

Pending any sort of natural disaster, De Haan anticipates that gas prices will fall again after Labor Day as demand for gas falls.

According to an estimate from AAA, 80% of people traveling for Labor Day are traveling by car.

To find the cheapest gas, De Haan recommends shopping around. As prices drop, the variability in prices between gas station increases.

As of Monday morning, gas prices in Raleigh were averaging $3.49, which is about 30 cents below the national average.