Sunday, May 26, 2024

Gas Prices Surge in Louisiana, National Average Rises

by BIZ Magazine

Louisiana, April 8, 2024 – Gasoline prices in Louisiana have surged by 3.2 cents per gallon over the past week, reaching an average of $3.13 per gallon today, according to the latest data from GasBuddy’s survey of 2,436 stations across the state. This increase marks a 14.1 cent-per-gallon hike compared to prices a month ago but remains 12.2 cents lower than prices recorded a year ago. Meanwhile, the national average price of diesel has also seen a notable increase, rising by 3.1 cents per gallon to $4.02.

GasBuddy’s price reports reveal that Louisiana’s cheapest gas station was priced at $2.67 per gallon yesterday, while the most expensive station charged $3.99 per gallon, reflecting a significant difference of $1.32 per gallon between the two. The lowest and highest prices recorded in the state yesterday were both $2.67 and $3.99 per gallon, respectively.

Across the nation, the average price of gasoline has climbed by 6.5 cents per gallon over the past week, reaching $3.57 per gallon today. This increase represents a 17.1 cent-per-gallon rise compared to prices a month ago, although it remains 0.8 cents lower than prices recorded a year ago. GasBuddy’s data, compiled from over 11 million weekly price reports covering more than 150,000 gas stations nationwide, highlights the recent upward trend in fuel prices.

Examining historical gasoline prices in Louisiana and the national average over the past decade, data reveals fluctuations in prices over time. For instance, on April 8, 2023, the average gasoline price in Louisiana stood at $3.25 per gallon, while the national average was $3.58 per gallon. Conversely, on April 8, 2020, the average gasoline price in Louisiana was notably lower at $1.74 per gallon, reflecting a time when fuel prices experienced a significant downturn.

In neighboring areas, gas prices have also seen increases in recent weeks. In Baton Rouge, prices rose by 3.5 cents per gallon to $3.13, while Jackson saw a 4.2 cent-per-gallon increase to $3.05, and New Orleans experienced a 4.9 cent-per-gallon rise to $3.19.

Patrick De Haan, head of petroleum analysis at GasBuddy, attributes the recent price surge to various factors, including refinery maintenance on the West Coast and escalating crude oil prices driven by OPEC’s production cuts and geopolitical tensions. De Haan anticipates further price increases, particularly on the West Coast, as summer gasoline transitions and global oil inventories decline.

GasBuddy remains a reliable source for real-time gas price data, updating its survey 288 times per day from a vast network of sources covering nearly 150,000 stations nationwide.

For more information and to track gas prices, visit GasBuddy’s website at http://prices.GasBuddy.com.

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