Wednesday, June 19, 2024

Shreveport Sees Drop in Gas Prices Ahead of Summer Travel Season

by BIZ Magazine

Shreveport, LA – Shreveport motorists received a bit of relief at the pump this week, as average gasoline prices fell by 7.7 cents per gallon, bringing the average price to $2.95 per gallon, according to GasBuddy’s latest survey of 177 stations in the area. This recent decrease is part of a broader trend, with prices now 10.7 cents lower than they were a month ago and 6.0 cents lower than this time last year.

The drop in Shreveport’s gas prices mirrors a national trend. Across the United States, the average price of gasoline fell by 3.5 cents per gallon over the past week, now standing at $3.55 per gallon. However, Shreveport’s prices remain below the national average, offering some economic relief to local drivers as the summer driving season approaches.

Price Variations and State Comparisons

GasBuddy’s data revealed significant variations in gas prices within Shreveport. The cheapest station reported a price of $2.77 per gallon, while the most expensive was $3.59 per gallon—a difference of 82 cents. Statewide, the lowest recorded price was $2.19 per gallon, and the highest was $3.99 per gallon, showcasing a substantial price range of $1.80 per gallon.

Neighboring areas also experienced declines in gas prices:

  • Little Rock: $3.04 per gallon, down 5.1 cents from last week.
  • Dallas: $3.07 per gallon, down 18.9 cents from last week.
  • Louisiana: $3.07 per gallon, down 4.4 cents from last week.

Historical Context and Future Outlook

Comparing historical data, Shreveport’s current average of $2.95 per gallon is notably lower than the $4.18 per gallon reported on May 20, 2022, and slightly below the $3.01 per gallon from last year. Over the past decade, prices have fluctuated significantly, with the lowest point being $1.58 per gallon in 2020 during the height of the COVID-19 pandemic.

Patrick De Haan, head of petroleum analysis at GasBuddy, provided an optimistic outlook for drivers, stating, “The news continues to be good for motorists ahead of Memorial Day, with gasoline prices again falling. GasBuddy’s Summer Travel Forecast, coming out tomorrow, will also give motorists mostly good news for the rest of the summer, predicting that gas prices will stay far under record levels and should continue trending lower as we get closer to July 4.”

GasBuddy’s Comprehensive Data

GasBuddy remains the authoritative source for gas price information, updating its data 288 times daily from nearly 150,000 stations nationwide. This extensive coverage ensures that consumers receive the most accurate and up-to-date information available.

For further details and to access GasBuddy’s comprehensive data, visit GasBuddy’s website.

Conclusion

With Shreveport’s gas prices trending downward, local motorists can look forward to more affordable travel as the summer season kicks off. This decline, part of a broader national trend, promises a more budget-friendly summer for drivers planning road trips and vacations.

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