Gasoline prices are on the rise following attacks on Saudi Arabian oil facilities. The current statewide average for a gallon of regular gasoline is $2.22, about a nickel higher than last week. AAA fuel analyst Don Redman says many Louisiana motorists are seeing the price at the pump spike.
“Some service stations have already responded with big jumps in the gasoline prices, some as high as ten cents, almost overnight,” said Redman.
Redman expects the prices to continue to rise in response to the attacks, but will be more in line with last year’s price point.
“By the time this settles out, we should be looking at prices for the statewide average between $2.40 a gallon and $2.50 a gallon,” said Redman.
Redman says the attacks are significant for the global oil market.
“This was an attack on oil production that provides about 6% of all the petroleum in the world,” said Redman.
