Pump prices are highest ever for Labor Day - 13 WTHR Indianapolis

Sour faces, soaring prices. That's what Labor Day brought at the gas pump.

"It's just going up and up and up," said one cross-country driver Monday. "It's killing us."

Just when Labor Day pump prices set a record, the Wrights of Ohio set off on their honeymoon.

"It's about $55.00 to fill up," Dean Wright says. "Pretty expensive. Just have to deal with it, I guess."

Price hikes are not stalling their plans... but they notice the signs.

Kathy Snyder of Missouri said this year's trip for visit family is costing her $50 more due to higher fuel costs. It means the Snyder's have less to spend on other activities.

Stephen Mitchell, headed west on I-70, saw high prices often on his trip. "$4.19 up in Michigan," he said.  He said he can't make many trips at prices like that. "You really have to plan ahead nowadays."

"There are a lot of things that happened all at once," says University of Indianapolis business professor Dr. Matthew Will. "First we had Hurricane Isaac, which shut down a lot of oil producing platforms in the Gulf."

He also points to slowdowns at Indiana and Illinois refineries and a Wisconsin pipeline leak, all which helped push Hoosier gas higher.

There could be an obstacle to higher gas prices on the road ahead. "The President announced a release from the strategic petroleum reserve," says Will. If it happens, 60 million barrels of oil would hit the market starting this month through the next few months.

"That'll definitely bring the price down," said Will. "The issue is there is no economic reason for it."

But if it happens, Kathy Snyder will take the relief. "It would be awesome," she said.