Price of gasoline falls 7 cents

Shreveport gas prices have fallen 7.0 cents per gallon in the past week, averaging $1.76/g Sunday, according to GasBuddy’s daily survey of 177 stations. Gas prices in Shreveport are 33.7 cents per gallon lower than a month ago and stand 65.0 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Shreveport is priced at $1.49/g today while the most expensive is $1.99/g, a difference of 50.0 cents per gallon. The lowest price in the state Sunday was $1.19/g while the highest is $2.96/g, a difference of $1.77/g.

The national average price of gasoline has fallen 10.1 cents per gallon in the last week, averaging $1.97/g today. The national average is down 45.5 cents per gallon from a month ago and stands 72.7 cents per gallon lower than a year ago.

Neighboring areas and their current gas prices:
Little Rock- $1.66/g, down 13.4 cents per gallon from last week’s $1.79/g.
Dallas- $1.62/g, down 13.2 cents per gallon from last week’s $1.75/g.
Louisiana- $1.81/g, down 8.4 cents per gallon from last week’s $1.90/g.

“Today, we enter the 38th straight day the national average gas price has fallen, and the first week of the national average being under $2/gal for the first time in over four years as motorists park their cars and shelter in place, leading to an unprecedented drop never before seen in U.S. gasoline demand, causing prices to sink like a rock,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “With the nation continuing to be under siege from the coronavirus and millions staying parked at home, there’s quite a bit more downside that’s in the pipeline coming in the weeks ahead. We could easily see the national average fall 50 cents to a dollar per gallon, while pricey states like California will see the biggest drops to come, playing catch up to the drop that has seen twenty nine states average gas prices fall under $2. Motorists should continue to be vigilant if they need to fill their tanks- bring hand sanitizer and potentially wipes, but also shop around as the gap between station widens to historic levels.”

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