Home News Gas prices continue to fall in Louisiana, nationally

Gas prices continue to fall in Louisiana, nationally

Louisiana gas prices have fallen 5.3 cents per gallon in the past week, averaging $1.71/g today, according to GasBuddy’s daily survey of 2,436 stations. Gas prices in Louisiana are 29.0 cents per gallon lower than a month ago and stand 82.2 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Louisiana is priced at $1.25/g today while the most expensive is $2.96/g, a difference of $1.71/g.

The national average price of gasoline has fallen 7.2 cents per gallon in the last week, averaging $1.83/g today. The national average is down 42.3 cents per gallon from a month ago and stands 100.3 cents per gallon lower than a year ago.

“As expected, and for the seventh straight week, the national average moved considerably lower, as well as gas prices in every state as retail prices continue to play catch up to the dramatic decline in market prices in recent weeks. And good news for consumers- contrary to popular belief, an OPEC deal over the weekend to cut oil production will actually not have a near-term impact on gasoline prices- not even one bit,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. 

“Establishing a floor on ultra-low oil prices will hopefully keep U.S. oil production online instead of bankrupting producers. The aim is exactly that- keep production online- which will keep prices affordable going forward, instead of ultra-low prices shutting in oil production, leading to a slingshot in gas prices years from now. Going back to gas prices, I expect prices to continue moderating for now, as gasoline demand appears to remain near 50-year lows.”

GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. Unlike AAA’s once-daily survey covering credit card transactions at 100,000 stations and the Lundberg Survey, updated once every two weeks based on 7,000 gas stations, 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.