Monday, June 17, 2024

Gasoline Prices on the Rise in Louisiana, National Average Follows Suit

by BPT Staff
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Gasoline prices in Louisiana have surged by 10.4 cents per gallon over the past week, reaching an average of $3.09 per gallon today, according to the latest data from GasBuddy. This increase comes amidst a broader trend of rising fuel costs across the nation, with the national average price of gasoline climbing by 4.4 cents per gallon to $3.44.

The spike in gasoline prices represents a significant jump compared to previous months, with prices in Louisiana now standing 21.2 cents per gallon higher than just a month ago. Moreover, current prices are nearly 5 cents per gallon higher than they were at the same time last year.

According to GasBuddy’s price reports, the range of gasoline prices in Louisiana varies considerably, with the cheapest station offering gasoline at $2.59 per gallon and the most expensive station charging $3.82 per gallon. This disparity highlights the fluctuating nature of fuel prices within the state.

The surge in gasoline prices is not unique to Louisiana, as neighboring areas have also experienced notable increases. In Baton Rouge, gasoline prices have risen by 9.3 cents per gallon to $3.08, while in Jackson, prices have climbed by 11.3 cents per gallon to $2.99. Similarly, in New Orleans, prices have increased by 7.8 cents per gallon to $3.11.

Patrick De Haan, head of petroleum analysis at GasBuddy, attributes the rise in gasoline prices to a combination of factors, including increasing gasoline demand, the ongoing transition to summer-grade gasoline, and refinery maintenance. However, De Haan suggests that the surge may soon abate, as refinery output begins to recover and refinery maintenance season approaches its peak.

Despite the upward trajectory of gasoline prices, there is some positive news for diesel consumers. Above-average temperatures have led to a decrease in heating oil demand, resulting in the national average price of diesel dropping by 2.2 cents per gallon to $4.00.

GasBuddy remains the leading source for accurate and up-to-date gas price information, with its comprehensive survey covering nearly 150,000 stations nationwide. Consumers can access GasBuddy’s data through its online platform, which updates 288 times daily, providing the most reliable information on gasoline prices across the country.

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