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Gas prices on the rise in Louisiana

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Average retail gasoline prices in Louisiana have risen 0.6 cents per gallon in the past week, averaging $2.32/g yesterday, according to GasBuddy’s daily survey of 2,436 gas outlets in Louisiana. This compares with the national average that has increased 0.9 cents per gallon in the last week to $2.52/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Louisiana during the past week, prices Sunday were 22.3 cents per gallon higher than the same day one year ago and are 10.1 cents per gallon lower than a month ago. The national average has decreased 8.3 cents per gallon during the last month and stands 21.0 cents per gallon higher than this day one year ago.

“Despite the rough ride crude oil received in the latter half of last week, gasoline prices managed a rally, pushing the national average for the week into positive territory for the first time in a month. This confirmed what was noted here last week; March comes in like a lamb but goes out like a lion. Oil aside, there are early indications that gasoline prices are about to strengthen helped by a noticeable number of refineries out for maintenance and a stronger demand outlook than we saw last year,” said Dan McTeague, senior petroleum analyst for GasBuddy. “

According to GasBuddy historical data, gasoline prices on March 5 in Louisiana have ranged widely over the last five years:

$2.09/g in 2017, $1.59/g in 2016, $2.23/g in 2015, $3.21/g in 2014 and $3.60/g in 2013.

“Geopolitics, trade skirmishes, growing fuel exports and the ever sensitive relationship between oil and the value of the greenback are all factors that are likely to help the gasoline bulls as temperatures and global political intrigue rise in apparent unison,” McTeague said.

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