GasBuddy: Price at the pump keeps rising

Shreveport gas prices have risen 0.7 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 8.5 cents per gallon higher than a month ago and stand 41.4 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Shreveport is priced at $1.59/g today while the most expensive is $2.29/g, a difference of 70.0 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 risen 3.5 cents per gallon in the last week, averaging $2.16/g today. The national average is up 5.7 cents per gallon from a month ago and stands 42.6 cents per gallon lower than a year ago.

Neighboring areas and their current gas prices:
Little Rock- $1.82/g, up 1.9 cents per gallon from last week’s $1.80/g.
Dallas- $1.88/g, up 10.1 cents per gallon from last week’s $1.78/g.
Louisiana- $1.84/g, up 0.7 cents per gallon from last week’s $1.83/g.

“With oil’s rally to a new COVID-19 high-water mark, gas prices have begun to follow, even as gasoline demand crumbles to some of the lowest levels in months,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Optimism continues to propel oil markets higher, led by positive news on a COVID-19 vaccine, but should anything change timing wise, we could a reversal, but for now it remains full steam ahead with markets focused on the promise of oil and gasoline demand rising, or the best potential outcome of the situation. Should the hype be overblown, a correction could happen in the weeks or months ahead. For now, motorists may see more volatility in oil markets then we’ve seen in months.”

Previous articleWall Street’s big rally taps the brakes; most US stocks slip
Next articleYPI names Comegys 2020 Young Professional of the Year at virtual event