Gasoline prices in Louisiana have surged over the past week, while the national average experiences a slight decline, according to recent data from GasBuddy.
The average price of gasoline in Louisiana has risen by 12.1 cents per gallon in the last week, currently standing at $3.19 per gallon, as reported by GasBuddy’s survey of 2,436 stations across the state. This increase puts prices 4.2 cents per gallon higher than a month ago and 14.8 cents per gallon higher than a year ago. Meanwhile, the national average price of diesel has dropped by 3.4 cents in the last week, now standing at $3.94 per gallon.
GasBuddy’s price reports highlight significant variation in gasoline prices across Louisiana. The cheapest station recorded was priced at $2.78 per gallon, while the most expensive station was $3.99 per gallon, reflecting a notable difference of $1.21 per gallon. These fluctuations underscore the importance of shopping around for the best fuel prices.
Nationally, the average price of gasoline has seen a marginal decrease of 1 cent per gallon in the last week, now averaging $3.62 per gallon. Despite this slight decline, the national average remains 2.7 cents per gallon higher than a month ago and 11.1 cents per gallon higher than a year ago, based on GasBuddy’s extensive data compiled from over 11 million weekly price reports covering more than 150,000 gas stations nationwide.
Reflecting on historical trends, gasoline prices in Louisiana and the national average have experienced notable fluctuations over the past decade. Ten years ago, on May 6, 2014, the average price of gasoline in Louisiana stood at $3.46 per gallon, significantly higher than the current average. However, recent years have seen lower price points, with May 6, 2020, recording a significantly lower average of $1.60 per gallon, amidst the COVID-19 pandemic.
In neighboring areas, gas prices have also seen increases. In Baton Rouge, prices have risen to $3.23 per gallon, up 18.2 cents from the previous week. Jackson recorded a price increase of 5.9 cents per gallon, now averaging $3.07 per gallon. Similarly, New Orleans saw a rise of 9.2 cents per gallon, with prices currently at $3.22 per gallon.
Patrick De Haan, head of petroleum analysis at GasBuddy, attributes the national average decline to cooler oil prices and the completion of spring refinery maintenance work. However, concerns about weak gasoline demand persist, with a weaker than expected jobs report signaling potential challenges for the upcoming summer driving season.
Looking ahead, De Haan anticipates gasoline prices to continue cooling alongside diesel prices in the lead-up to Memorial Day weekend.