Gas prices still on the rise

Shreveport gas prices have risen 0.9 cents per gallon in the past week, averaging $1.82/g today, according to GasBuddy’s daily survey of 177 stations. Gas prices in Shreveport are 17.2 cents per gallon higher than a month ago and stand 53.3 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Shreveport is priced at $1.68/g today while the most expensive is $2.26/g, a difference of 58.0 cents per gallon. The lowest price in the state today is $1.59/g while the highest is $2.89/g, a difference of $1.30/g.

The national average price of gasoline has fallen 1.2 cents per gallon in the last week, averaging $2.17/g today. The national average is up 14.9 cents per gallon from a month ago and stands 58.1 cents per gallon lower than a year ago.

Neighboring areas and their current gas prices:

  • Little Rock- $1.79/g, down 2.1 cents per gallon from last week’s $1.81/g.
  • Dallas- $1.88/g, down 3.5 cents per gallon from last week’s $1.92/g.
  • Louisiana- $1.84/g, down 0.8 cents per gallon from last week’s $1.85/g.

“With July 4 behind us, we’re now half way through the summer driving season, and the pace of gas price increases has finally hit a wall. As of Sunday evening, it appears possible that we may break the nine straight weeks of rising prices thanks to a drop in demand fueled by COVID-19 cases surging in some states,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “So far this summer, both holidays have seen the lowest prices since 2004, and its possible that if things don’t improve much by Labor Day we could see the rare trifecta of every summer holiday setting multi-year lows. For now, I believe we may see increases stall and some minor increases or decreases until we see a solid change in the coronavirus situation. For now, some states will see slight increases, some may see slight decreases, but gas prices are essentially stuck in limbo.”

Previous articleEconomist: Going back to work will lead economy forward, not another stimulus check
Next articleAnalysis: Proposed Louisiana constitutional amendment could limit government growth