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Gas prices keep falling

Gasoline prices in Louisiana have fallen 1.3 cents per gallon in the past week, averaging $2.57/g Sunday, according to GasBuddy’s daily survey of 2,436 stations in Louisiana. This compares with the national average that has increased 1.6 cents per gallon versus last week to $2.84/g, according to GasBuddy.

“Last week saw a brief and fairly tame rise in the national average, brought on mainly by a select few states where gas prices tend to be volatile,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.

Overall, it was a mostly stable week with some up and down movement state-by-state, but now we await the changeover to winter gasoline that happens this Saturday for some relief at the pump.”

Average gasoline prices on Sept. 10 in Louisiana have ranged widely over the last five years:

$2.40/g in 2017, $1.99/g in 2016, $2.08/g in 2015, $3.18/g in 2014 and $3.37/g in 2013.

Including the change locally during the past week, prices yesterday were 17.2 cents per gallon higher than a year ago and are 5.9 cents per gallon lower than a month ago. The national average has dropped 2.4 cents per gallon during the last month and stands 18.1 cents per gallon higher than a year ago.

“While Hurricane Florence may pose fuel-related challenges for areas of the East Coast, there is little to no threat to refineries at this time and is thus unlikely to bring measurable impact to the national average price of gasoline, but could bring supply challenges to several states, depending on levels of evacuations and timing of them,” DeHaan said.

“Hurricane season aside, gasoline demand will likely drift lower nearly countrywide, putting some additional downward impact on prices in most communities over the next few weeks.”