Home News-Free Demand for gas sees an inexplicable rise, highest since Labor Day

Demand for gas sees an inexplicable rise, highest since Labor Day

Louisiana gas prices have fallen 1.2 cents per gallon in the past week, averaging $1.87/g today, according to GasBuddy’s daily survey of 2,436 stations. Gas prices in Louisiana are 1.7 cents per gallon lower than a month ago and stand 40.0 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Louisiana is priced at $1.63/g today while the most expensive is $2.59/g, a difference of 96.0 cents per gallon. 

“It’s been a fairly quiet week for gas prices yet again, but with oil tanking last week, there’s a possibility motorists may see a renewed downward direction in average prices in the days or weeks ahead,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

The national average price of gasoline has fallen 0.7 cents per gallon in the last week, averaging $2.17/g today. The national average is down 4.3 cents per gallon from a month ago and stands 49.0 cents per gallon lower than a year ago.

“However, according to Pay with GasBuddy data, gasoline demand inexplicably rose last week to the highest level since August, breaking with conventional wisdom that fall demand is typically weak. While we have no direct reasoning for the rebound, five of seven days last week saw much above the prior week’s gasoline demand, in fact, Friday saw the highest gasoline demand since Labor Day. If demand continues to somehow defy such conventional trends, we may see an end to the possibility of future declines,” said De Haan.

GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. GasBuddy’s survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country.