Gas prices lower statewide for summer travel compared to last year record high

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Gas prices in Louisiana are down by nearly a dollar and a half compared to last year’s record high for a statewide average for a gallon of regular gas at $4.56. AAA Fuel Analyst Don Redman says gasoline prices are notably lower than expected.

“We anticipated that we would be at this time of the year looking anywhere between $3.25 to $3.50 a gallon. So we’re even beating those expectations. It’s getting back more in line to what we saw in 2019. It’s a big relief for sure.”

On June 15 last year, the price for a gallon of regular gasoline was at a record high of $4.56 and now it’s at $3.12. Redman says the drop is due to the price of oil and ease in demand.

“The price of oil is hovering about $70 a barrel. That’s been keeping the prices moderated as well as you don’t have quite the demand that was initially anticipated.”

Redman says gas prices should hold steady for the summer maybe a slight bump around the 4th of July holiday but no steep hikes are expected unless a hurricane shuts down a bunch of refineries.

“We are in the hurricane season as we get further into the summer that’s always a dicey situation trying to anticipate what prices are. But barring any major interruptions like a storm would bring we anticipate those prices to be very similar to where they are right now today.”

The national average for regular gas is $3.58 a gallon.

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