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Gas prices recovering nationally

Louisiana gas prices have risen 1.5 cents per gallon in the past week, averaging $1.64/g today, according to GasBuddy’s daily survey of 2,436 stations. Gas prices in Louisiana are 2.1 cents per gallon higher than a month ago and stand 78.4 cents per gallon lower than a year ago. According to GasBuddy price reports, the cheapest station in Louisiana is priced at $1.37/g today while the most expensive is $2.29/g, a difference of 92.0 cents per gallon. 

“Average gasoline prices across the U.S. continue to recover as more motorists take back to the roads as states relax previous shelter-in-place orders and begin filling their tanks, driving demand to continue rising,” said Patrick DeHaan, head of petroleum analysis at GasBuddy.

The national average price of gasoline has risen 5.5 cents per gallon in the last week, averaging $1.96/g today. The national average is up 22.3 cents per gallon from a month ago and stands 86.6 cents per gallon lower than a year ago.

“Since demand is a major ingredient in what drives gasoline prices and demand is likely to continue to rebound, it is also pushing the price of both crude oil and gas prices higher. Unfortunately, thus far, refiners have started to input more crude oil into their refineries, but there has been some lag as refiners remain cautious on flooding the market with unwanted products. As long as COVID-19 cases continue to drop over time and provinces re-open, I suspect it is only a matter of time before average price hits the $2 per gallon mark again- which could happen as early as this week,” said DeHaan.

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.