Gas prices predicted to dip below $2.50 for Labor Day

Gas prices predicted to dip below $2.50 for Labor Day
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Gas prices are predicted to dip below $2.50 for the busy Labor Day holiday travel season, according to AAA. 

The auto club said Thursday that the national price of a gallon of regular gasoline will be $2.44 over the Labor Day travel period, which the group has defined the Thursday through Monday surrounding the holiday.

The prediction is nearly $1 cheaper than the average price of gas over the Labor Day holiday in 2014. AAA also said it would be the lowest level for the September holiday weekend since 2004. 

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“Americans should find good deals on gas prices in most parts of the country heading into the busy Labor Day weekend,” AAA spokesman Avery Ash said in a statement. “It is unbelievable that drivers are ending their summer vacations with the lowest gas prices for this time of year in more than a decade.”

AAA predicted earlier this week that 35.5 million U.S. residents will travel at least 50 miles away from home over the weekend, a 1 percent increase compared to last year. 

AAA said Thursday that U.S. drivers would save more than $1 billion on gas over the Labor Day holiday compared to last year's spending.