Americans hit with record gasoline prices

With the war in the Middle East still raising energy costs, Americans face record-high gasoline prices for Labour Day weekend, just as political campaigns kick off for midterm Congressional elections.

The national average gasoline price will probably hit $4.03 on Labour Day, far surpassing the previous record of $3.83 per gallon set in 2012, said GasBuddy analyst Patrick De Haan. "Gasoline, while not at all-time records, is at its highest level ever recorded this late in the calendar year, meaning Americans could for the first time ever see a national average price of gasoline above $4 per gallon on Labour Day," De Haan wrote in a blog post.