American Drivers Paid Record Low Gas Prices During Labor Day

A gas station in Mill Valley, Calif., on March 3, 2015. The pump price for gasoline was $2.24 per gallon on Aug 29, according to EIA. This was the before Labor Day since 2004. Justin Sullivan/Getty Images

Before the summer travel season came to an end, the average retail price of regular gasoline in the United States hit a record low. The pump price was $2.24 per gallon on Aug. 29, according to the U.S. Energy Information Administration (EIA). This was the lowest price before Labor Day in over a decade.

Gasoline consumption peaks during the summer season between two holidays: Memorial Day in late May and Labor Day in early September. Although the average demand in August rose by nearly 2 percent year-on-year, the average pump price was 27 cents per gallon lower on Aug. 29 compared to the same period last year.

Source: U.S. Energy Information Administration EIA