Gas prices fall after US dips into Strategic Petroleum Reserve

(April 4, 2022) – Average gasoline prices in Louisiana have fallen 5.0 cents per gallon in the last week, averaging $3.95/g today, according to GasBuddy’s survey of 2,436 stations in Louisiana. Prices in Louisiana are 25.8 cents per gallon higher than a month ago and stand $1.34/g higher than a year ago. The cheapest station in Louisiana was priced at $3.49/g yesterday while the most expensive was $4.58/g, a difference of $1.09/g. 

“Oil prices fell last week as Covid cases in China surged, prompting restrictions on movements and hurting oil demand. Meanwhile, President Biden’s announcement that the U.S. would be releasing 180 million barrels from the Strategic Petroleum Reserve caused an even further decline in oil, leading gas prices in nearly all areas of the country to fall over the last week,” said Patrick DeHaan, head of petroleum analysis at GasBuddy.

The national average price of gasoline has fallen 5.4 cents per gallon in the last week, averaging $4.17/g today. The national average is up 25.5 cents per gallon from a month ago and stands $1.31/g higher than a year ago.

“So long as oil prices remain under $100 per barrel and there’s no escalations in Russia’s war on Ukraine, we may be poised to see gas prices decline again this week as the U.S. and other countries try to raise oil supply to tip prices lower,” said De Haan.

Neighboring areas and their current gas prices:

Baton Rouge- $3.95/g, down 5.5 cents per gallon from last week’s $4.01/g.

Jackson- $3.84/g, down 6.0 cents per gallon from last week’s $3.90/g.

New Orleans- $4.02/g, down 3.2 cents per gallon from last week’s $4.05/g.

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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