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Storms and COVID keep Louisiana gas prices stagnant

Louisiana gas prices have risen 1.7 cents per gallon in the past week, averaging $1.86/g today, according to GasBuddy’s daily survey of 2,436 stations. Gas prices in Louisiana are 0.4 cents per gallon lower than a month ago and stand 35.1 cents per gallon lower than a year ago. The cheapest station in Louisiana is priced at $1.57/g today while the most expensive is $2.64/g, a difference of $1.07/g. 

“All eyes are on the Gulf of Mexico as two tropical systems head toward a sensitive area for the oil industry, and while these storms bear monitoring, they thankfully are unlikely to have a major impact on gas prices that for the eighth straight week have been mostly quiet,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

The national average price of gasoline has risen 0.8 cents per gallon in the last week, averaging $2.18/g today. The national average is down 0.5 cents per gallon from a month ago and stands 41.1 cents per gallon lower than a year ago.

“While Hurricane Marco and likely-soon-to-be Hurricane Laura churn in the Atlantic, current forecasts show limited ability for them to turn into a major hurricane, which means that motorists need not panic about gasoline supply or price. We should be able to weather both of these storms, barring a major increase in peak intensity. In addition, with gasoline demand still weak due to COVID-19, there’s ample capacity for refineries that are not in the path of the storms to raise output should the situation warrant it,” said De Haan.

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 http://FuelInsights.GasBuddy.com.