Home News-Free Reduced demand and supply keep Louisiana gas prices high

Reduced demand and supply keep Louisiana gas prices high

(February 8, 2021) – Louisiana gas prices have risen 2.0 cents per gallon in the past week, averaging $2.17/g today, according to GasBuddy’s daily survey of 2,436 stations in Louisiana. Gas prices in Louisiana are 19.9 cents per gallon higher than a month ago and stand 9.0 cents per gallon higher than a year ago. The cheapest station in Louisiana is priced at $1.93/g today while the most expensive is $2.89/g, a difference of 96.0 cents per gallon. 

“Many factors continue to push oil prices higher, but at the foundation of the rise is the fact that the coronavirus situation continues to improve, pushing global oil demand higher as production continues to lag, pushing U.S. gas prices higher,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

The national average price of gasoline has risen 3.7 cents per gallon in the last week, averaging $2.45/g today. The national average is up 13.2 cents per gallon from a month ago and stands 1.6 cents per gallon higher than a year ago.

 “Until OPEC intercedes and raises oil production in the months ahead, motorists should continue to expect rising gas prices, which for the first time some time stand at their highest in over a year, adding misery to the dire economic situation as millions remain jobless. The news won’t likely improve in the months ahead, with continued increases in gas prices as OPEC maintains a tight balance between reduced demand and supply, keeping prices on the higher side.”

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. GasBuddy data is accessible at FuelInsights.GasBuddy.com.