Gas price declines slowly pick up momentum

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(November 29, 2021) – Louisiana gas prices have fallen 2.0 cents per gallon in the past week, averaging $3.08/g today, according to GasBuddy’s daily survey of 2,436 stations in Louisiana. Gas prices in Louisiana are 8.4 cents per gallon lower than a month ago and stand $1.26/g higher than a year ago. The lowest price in the state today is $2.69/g while the highest is $3.69/g, a difference of 100.0 cents per gallon.

“Gas price declines are slowly picking up momentum. With oil’s recent fall and the jury out on a new Covid variant, Omicron, we could be in store for lower prices based on many countries turning back to travel restrictions, limiting oil demand and potentially accelerating the drop in gas prices,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

The national average price of gasoline has fallen 3.4 cents per gallon in the last week, averaging $3.37/g today. The national average is down 1.4 cents per gallon from a month ago and stands $1.26/g higher than a year ago.

“There remains a very high level of uncertainty ahead of us as OPEC has also delayed its meetings to await more market movements and information on Omicron. But so far, Americans can expect the new variant to push gas prices even lower. Beyond the next few weeks, it remains nearly impossible to predict where oil and gas prices will head, though turbulence is guaranteed,” 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.

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