Record Gas Prices: The Unwelcome Labor Day Surprise The summer driving season is coming to an abrupt close for many American families this Labor Day weekend.
Instead of enjoying a well deserved break, they'll be grappling with record high gas prices that have breached the $4 per gallon mark for the first time ever.
According to Tom Seng, an energy finance expert at Texas Christian University, the Iran conflict and Strait of Hormuz are primarily responsible for this price surge.