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Gas prices show an uptick over the past week

Louisiana gas prices have risen 0.7 cents per gallon in the past week, averaging $2.20/g today, according to GasBuddy’s daily survey of 2,436 stations. Gas prices in Louisiana are 4.5 cents per gallon lower than a month ago, yet stands 18.7 cents per gallon lower than a year ago.

“It looks like average gas prices in most areas saw a modest uptick again in the last week, for the second consecutive week on continued optimism over a China/U.S. trade deal and another decline in gasoline inventories, which pushed wholesale gas prices higher in most areas,” said Patrick DeHaan, Head of Petroleum Analysis for GasBuddy. 

According to GasBuddy price reports, the cheapest station in Louisiana is priced at $1.93/g today while the most expensive is $2.96/g, a difference of $1.03/g. The lowest price in the state today is $1.93/g while the highest is $2.96/g, a difference of $1.03/g. The cheapest price in the entire country today stands at $1.92/g while the most expensive is $5.49/g, a difference of $3.57/g.

The national average price of gasoline has fallen 1.5 cents per gallon in the last week, averaging $2.61/g today. The national average is down 3.5 cents per gallon from a month ago, yet stands 6.8 cents per gallon lower than a year ago.

“Some areas of the Great Lakes saw prices spike due to price cycling, a local trend, and with the stock market and interest rates heading up there’s been a strong belief that the economy continues to chug along, boosting oil demand in its wake as well, leading to an unusual trend in the fall: gas prices that aren’t falling but stable or increasing,” said DeHaan,

“About the only region that has seen some relief in recent days and will see prices drop notably will be the West Coast, but only after gas prices in those areas soared on refinery kinks, power outages and more. California will likely soon slide back under $4 per gallon while the Pacific Northwest- Washington and Oregon- see declines of 10-25 cents over the coming weeks. For the rest of the country, we’ll see some limited price drops with the possibility of prices holding or even rising again this week, following oil prices higher.”