Monday, April 15, 2024

Gasbuddy: Price at the pump jumps more than 7 cents

by BIZ Magazine

Gasoline prices in Louisiana have seen a notable increase in the past week, according to data from GasBuddy’s latest survey. The average price per gallon in the state has risen by 7.4 cents, currently standing at $2.87/g as of today. This marks a significant jump from the previous month, with prices soaring by 16.9 cents per gallon. However, despite the recent surge, prices remain 14.9 cents lower than they were a year ago.

GasBuddy’s survey, which covered 2,436 stations across Louisiana, revealed a range of prices across the state. The cheapest station recorded yesterday was priced at $2.58/g, while the most expensive reached $3.59/g, highlighting a difference of $1.01/g. Baton Rouge reported gas prices at $2.86/g, up 6.5 cents from the previous week, while Jackson saw prices at $2.80/g, a 4.3 cents increase from the previous week. New Orleans reported prices at $2.91/g, up 7.0 cents from the previous week.

Nationally, the average price of gasoline has also experienced a surge, rising by 8.7 cents per gallon over the past week to reach $3.26/g today. This marks an increase of 16.7 cents per gallon from the previous month. However, despite the recent spike, the national average remains 11.6 cents per gallon lower than it was a year ago.

Commenting on the trend, Patrick De Haan, head of petroleum analysis at GasBuddy, noted, “Roses are red, violets are blue, Valentine‚Äôs is over, and gas prices are going anywhere but lower.” De Haan emphasized that the spring season typically brings a rise in gas prices, with the recent trend of consecutive increases in the national average hitting four weeks. He highlighted the importance of monitoring refinery activities and the production of summer gasoline, which can influence future price fluctuations.

As consumers brace for continued price hikes at the pump, attention turns to factors such as refinery maintenance and supply levels, which could impact the trajectory of gas prices in the weeks ahead.

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