Gas Buddy: Price at pump up another 4.5 cents

Shreveport gas prices have risen 4.5 cents per gallon in the past week, averaging $1.67/g today, according to GasBuddy’s daily survey of 177 stations. Gas prices in Shreveport are 9.9 cents per gallon higher than a month ago and stand 61.6 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Shreveport is priced at $1.51/g today while the most expensive is $1.99/g, a difference of 48.0 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 4.3 cents per gallon in the last week, averaging $2.02/g today. The national average is up 19.8 cents per gallon from a month ago and stands 72.5 cents per gallon lower than a year ago.

Neighboring areas and their current gas prices:
Little Rock- $1.65/g, up 6.4 cents per gallon from last week’s $1.59/g.
Dallas- $1.65/g, up 1.2 cents per gallon from last week’s $1.64/g.
Louisiana- $1.70/g, up 4.0 cents per gallon from last week’s $1.66/g.

“It’s no surprise that gasoline prices have increased for the sixth straight week as gasoline demand has hit its highest level since early March as Americans are returning to the roads,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “With OPEC extending its large oil production cuts until at least July, oil prices continue to rally. In Sunday evening trade, a barrel of WTI crude oil briefly touched $40 per barrel, the highest level in months thanks to rebounding demand for oil and gasoline as well as the previous production cuts. While I don’t see oil’s strength holding too long given that oil demand remains 20-25% below a year ago, I believe the anxiety pushing oil prices up is coming from the fact that the economy may be recovering quicker than most anticipated. For now, motorists will likely continue to see gas prices rising for the weeks ahead.”