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Oil storage tanks for Rose's Marine fueling depot located in Gloucester, Massachusetts, U.S., on the 5th (local time). / Reuters, Yonhap

With Middle East conflict pushing energy prices higher, projections in the U.S. suggest gasoline prices ahead of Labor Day are poised to reach record-high levels.

According to Reuters on the 5th (local time), Patrick De Haan, an analyst at price tracking firm GasBuddy, projected that the national average gasoline price in the U.S. could rise to 4.03 dollars per gallon on Labor Day, the 7th. This well exceeds the previous record high of 3.83 dollars per gallon set in 2012.

In a recent blog post, De Haan wrote that while gasoline prices are not at an all-time record, they have reached historic highs for this time of year, meaning Americans could face a national average exceeding 4 dollars per gallon on Labor Day for the first time in history.

According to GasBuddy, the nationwide average gasoline price stood at 4.13 dollars per gallon as of the 3rd, nearly 1 dollar higher than last year's average.

Analysts note that the 4-dollar-per-gallon threshold represents a price point placing substantial pressure on consumers.

Gasoline prices are among the economic indicators most acutely felt by U.S. consumers. With prices staying above 4 dollars per gallon for much of this year, U.S. President Donald Trump and the Republican Party face persistent political headwinds heading into the November midterm elections.

President Trump, who had pledged to lower energy costs, has criticized refiners and fuel retailers in recent weeks, accusing them of price gouging amid high pump prices.

On the 14th of last month, President Trump argued that Americans should be willing to pay a little more for gasoline to prevent Iran from developing nuclear weapons.

In the U.S., Labor Day is widely regarded as the final holiday stretch of summer, during which many people travel by car or plane.

                                                                                                           Kim Hyun-min