Wednesday, June 19, 2024

Gas Prices in Shreveport Rise Amid National Trends

by BIZ Magazine

SHREVEPORT, LA — Average gasoline prices in Shreveport have increased by 5.6 cents per gallon in the past week, now averaging $3.01 per gallon, according to a recent GasBuddy survey of 177 stations in the area. This marks a slight uptick of 2.1 cents per gallon compared to a month ago, yet it remains 4.2 cents per gallon lower than the same period last year.

The price variation in Shreveport is notable, with the cheapest station offering gas at $2.71 per gallon and the most expensive at $3.39 per gallon, creating a significant gap of 68.0 cents per gallon. The lowest price reported in Louisiana yesterday was also $2.71 per gallon, while the highest reached $3.99 per gallon, a difference of $1.28 per gallon.

Nationally, gasoline prices have seen a modest rise of 1.2 cents per gallon over the last week, now averaging $3.56 per gallon. This national average is down 6.5 cents per gallon from last month and stands slightly higher than a year ago by 1.2 cents per gallon. Diesel prices, however, have decreased by 2.9 cents in the last week, averaging $3.82 per gallon.

Patrick De Haan, head of petroleum analysis at GasBuddy, commented on the current trends: “With the summer driving season now underway, average gas prices have seen ups in some areas and downs in others. Most states are seeing prices slightly below their 2024 peak thus far, with some refinery issues in the Great Lakes weighing on prices there, while other areas, like the West Coast, have seen notable relief with more coming.”

De Haan added, “June tends to be a month of smooth sailing, where we see gas prices decline in most areas, and that’s a trend that looks the most likely for drivers, barring unexpected refinery snags or a tropical storm developing. The national average over Memorial Day was down ever so slightly compared to last year—after adjusting for inflation, prices were down about 10 cents per gallon. Not a terrible way to kick off summer!”

Historical Gasoline Prices

GasBuddy also provided a historical perspective on gasoline prices in Shreveport and the national average over the past decade:

  • May 28, 2023: $3.05/g (U.S. Average: $3.55/g)
  • May 28, 2022: $4.15/g (U.S. Average: $4.60/g)
  • May 28, 2021: $2.70/g (U.S. Average: $3.04/g)
  • May 28, 2020: $1.62/g (U.S. Average: $1.97/g)
  • May 28, 2019: $2.33/g (U.S. Average: $2.81/g)
  • May 28, 2018: $2.62/g (U.S. Average: $2.96/g)
  • May 28, 2017: $2.04/g (U.S. Average: $2.36/g)
  • May 28, 2016: $2.08/g (U.S. Average: $2.32/g)
  • May 28, 2015: $2.46/g (U.S. Average: $2.74/g)
  • May 28, 2014: $3.43/g (U.S. Average: $3.65/g)

Regional Comparisons

Comparing regional prices, Little Rock currently averages $3.01 per gallon, a decrease of 2.9 cents from last week. In Dallas, prices have surged by 14.8 cents, reaching $3.22 per gallon. Across Louisiana, the average price is $3.09 per gallon, up by 2.7 cents from last week.

As the summer driving season progresses, motorists in Shreveport and across the nation will continue to watch gas price trends closely, hoping for the typical June decline in prices to ease their travel budgets.

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