The cost of gasoline in Louisiana jumped up five cents since yesterday. Today’s statewide average price for a gallon of regular gasoline is $3.36 a gallon, up from $3.31 overnight. And it’s up 26 cents from a week ago.
“Everything has to do with the supply of gasoline, the price of crude oil, the demand for gasoline,” Redman says.
That’s AAA’s Don Redman. He says the war between Russia and Ukraine plus OPEC’s decision to cut production is hurting drivers worldwide—and yet, people are still driving more.
“The demand for energy has been really strong which is unusual for this time of year,” he adds.
Redman says demand for gasoline usually tapers off in the fall after the summer travel season. But he says when prices dropped near the end of the summer, demand surged. He’s not expecting relief anytime soon.
“We’re telling our AAA members to budget about 3.50 a gallon through thanksgiving and it’s almost like we have to wait and see,” Redman says.
Redman adds that soaring diesel prices will hurt the cost of consumer goods.
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