Wednesday, February 21, 2024

Gas prices fall one cent, expected to climb to $2

by David Specht

Shreveport gas prices have fallen 1 cent per gallon in the past week, averaging $1.61/g today, according to GasBuddy’s daily survey of 177 stations. Gas prices in Shreveport are 3.1 cents per gallon higher than a month ago and stand 68.7 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Shreveport is priced at $1.47/g today while the most expensive is $1.99/g, a difference of 52.0 cents per gallon. The lowest price in the state today is $1.39/g while the highest is $2.96/g, a difference of $1.57/g.

The national average price of gasoline has risen 0.7 cents per gallon in the last week, averaging $1.97/g today. The national average is up 20.0 cents per gallon from a month ago and stands 84.5 cents per gallon lower than a year ago.

Neighboring areas and their current gas prices:

  • Little Rock- $1.56/g, up 0.6 cents per gallon from last week’s $1.56/g.
  • Dallas- $1.63/g, up 7.8 cents per gallon from last week’s $1.55/g.
  • Louisiana- $1.64/g, unchanged from last week’s $1.64/g.

“The pace of increases has begun to throttle back over the last week in most states as gasoline demand’s recovery has slowed, keeping prices from matching their rapid pace from just a couple weeks ago. Prices will continue to move in lock-step with the coronavirus situation, so it remains challenging to know where prices will go in the weeks ahead,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Oil prices saw another weekly rise, closing last week at over $35 per barrel due to a collision between oil production cuts and gasoline demand in the U.S. which has been on the mend, leading oil’s rally. The recovery in gas prices is likely to continue, though at a slower pace than what we’ve seen, with $2 per gallon likely coming in the next week or two.”

You may also like