ICYMI: "Good news for Labor Day weekend travelers: Gas prices are dropping"

As a record number of Americans travel this Labor Day weekend, they're seeing lower prices at the pump, with gas prices down nearly 50 cents since last year. President Biden and Vice President Harris are fighting to lower everyday costs, with record energy production—including record oil production—helping gas prices reach their lowest level in three years.

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MSNBC's Morning Joe

LAEL BRAINARD: "We've seen some good progress on gas prices. We're going into that Labor Day driving weekend with gas prices at about $3.35 at the pump—below $3 in some states—down 50 cents since last year, so that is positive progress."

CNN Newsroom

LAEL BRAINARD: "We are actually seeing relief at the pump. $3.35 national average, that's a reduction of about 50 cents since last Labor Day and the lowest Labor Day gas prices we've seen in three years."

CNBC: New PCE data shows economy can continue expanding while inflation moves down, says Lael Brainard

LAEL BRAINARD: "Gas prices have come down. They're about $3.35 nationally, below $3 in some states. That's a reduction of about 50 cents since last year, lowest driving costs going into Labor Day that we've seen in three years."

CNN Newsroom

JARED BERNSTEIN: "People are out there traveling; they're taking advantage of gas prices that are just about 50 cents down from a year ago. Rising real pay, rising incomes translating into rising consumer spending and an ongoing economic recovery."

MSNBC's Jose Díaz-Balart Reports

JARED BERNSTEIN: "We have real momentum in the overall economy as rising real pay and lower gas prices are helping consumers make ends meet—giving them a bit of breathing room. You know, the gas price is about 50 cents a gallon below where it was a year ago, so that really helps on this Labor Day weekend."

USA Today: Good news for Labor Day weekend travelers: Gas prices are dropping

Good news for Labor Day road trippers: gas prices are easing up.

The national average for regular fuel at the pump was $3.36 per gallon as of Thursday, down about 14 cents from last month and 46 cents from a year ago, according to data from AAA. Barring any unexpected road bumps ahead, experts say prices should keep falling through the remainder of the year.

"If you're going to go somewhere, it's a great weekend to go because prices are going in the right direction," said AAA spokesperson Andrew Gross.

CNN: Traveling this Labor Day weekend? Expect record crowds and lower prices

US motorists can also expect to pay less for gas as they set out on holiday weekend road trips. The national average gas price over Labor Day weekend in 2023 was $3.81 per gallon, according to AAA. AAA's national average gas price on Thursday was $3.36 per gallon.

GasBuddy is projecting the average price of gas on Labor Day will be $3.27 per gallon – the lowest for this holiday since 2021 and 13% cheaper than last year.

CBS News:Record travel expected for Labor Day as gas prices, flight costs dip from 2023

An estimated 17 million people are expected to travel by plane over the Labor Day holiday with more than 52,000 flights expected to depart Thursday. The anticipated record turnout is thanks to lower prices as flight costs are down 5% compared to last Labor Day, according to the booking app Hopper. Gas prices are also lower.

Reuters: US gasoline prices lower this year ahead of Labor Day, EIA says

U.S. gasoline prices were substantially lower than last year heading into the weekend of the Labor Day federal holiday on Monday, which ends the U.S. summer driving season, the U.S. Energy Information Administration (EIA) said on Thursday.

The retail price for regular gasoline in the U.S. averaged $3.31 per gallon on Aug. 26, down about 13% from a year earlier.

Forbes: Labor Day Gas Prices Could Be Lowest In Years—And May Keep Dropping This Fall

Travelers hitting the road over Labor Day weekend are in for lower gas prices than last year—and potentially the lowest prices since 2021—as the cost of gas continues to drop as it typically does at the end of summer.

GasBuddy's annual Labor Day travel forecast predicts the average price of gas will fall to $3.27 by Monday, which would be the lowest Labor Day price since three years ago, when gas was an average of $3.16 per gallon.

If Monday's price per gallon is $3.27, it would be a 50 cent-per gallon decrease from last year's $3.77 per-gallon price.