Tuesday, May 21, 2024

Gas Prices in Shreveport See Slight Decline as National Average Inches Up

by BIZ Magazine

Shreveport, LA — Gasoline prices in Shreveport have dipped by 4.5 cents per gallon in the past week, settling at an average of $3.04 per gallon today, according to a recent survey conducted by GasBuddy across 177 stations in the city. This slight decline comes amidst a backdrop of fluctuating global oil prices and geopolitical tensions.

Compared to a month ago, prices in Shreveport are marginally lower by 0.4 cents per gallon, while they stand significantly lower by 21.7 cents per gallon compared to the same period last year. However, despite the local dip, the national average price of gasoline has risen by 3.1 cents per gallon in the last week, reaching $3.60 per gallon today. This marks an increase of 14.2 cents per gallon from a month ago but is 5.5 cents per gallon lower than a year ago.

In Shreveport, the range of gasoline prices among stations is notable, with the cheapest station priced at $2.88 per gallon yesterday and the most expensive at $3.59 per gallon, indicating a difference of 71.0 cents per gallon. Similarly, in the state of Louisiana, prices varied widely, with the lowest recorded price at $2.19 per gallon and the highest at $3.99 per gallon, showcasing a difference of $1.80 per gallon.

Providing context to the recent trends, Patrick De Haan, head of petroleum analysis at GasBuddy, commented, “With Iran’s attack on Israel over the weekend, the stakes couldn’t have been higher for a major potential impact on oil and gasoline prices. With the attacks largely thwarted and mostly unsuccessful, and with Iran signaling that their attack will be the end of their response, the risk to crude oil has diminished, and the situation is thankfully likely to de-escalate going forward.”

However, De Haan cautioned that motorists should anticipate other factors influencing pump prices in the near future. He noted, “Motorists in the mid-Atlantic and Northeastern U.S. will soon see a spike in prices as they make the leap to summer gasoline— as much as 20-50 cents per gallon higher in nearly a dozen states. On the West Coast, price increases should finally slow, but the national average will likely climb again in the coming week.”

GasBuddy, known for its comprehensive gas price data and analysis, tracks prices from nearly 150,000 stations nationwide, providing real-time updates accessible to consumers.

For the latest gas price information and updates, visit GasBuddy’s website.

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