Louisiana gas prices continue to fall, now down to a statewide average of $3.09 a gallon ahead of the busiest travel week of the year. This comes in just below last year’s Thanksgiving average of $3.10/gallon making Louisiana one of the only states to see a decrease from last year. GasBuddy.com petroleum analyst Patrick Dehaan said prices have been steadily dropping.
“We’re down eleven cents from last week and down 24 cents from a month ago, so by all metrics things are coming down and looking fairly good for Thanksgiving.”
Dehaan credited the decreasing price of oil for the price drop. The ongoing lockdown of China’s economy and decreased oil consumption combined with refineries returning to production from maintenance have helped to decrease the price at the pump. Dehaan said the price has fallen substantially in the last few weeks.
“Well, the price of oil has given up a lot of ground in the last week and a half, really the last few weeks, falling to $80/barrel. In fact, earlier today it had dropped to $76/barrel.”
Dehaan predicted that, at least for the next few weeks, prices will continue to fall. He said there’s no certainty when dealing with gas prices, but things are looking good heading into December.
“I don’t know if we’ll see them falling through the end of the year, but I would say another week or two, potentially even more. We should see prices declining probably well into December for now.”
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