Louisiana Gas Prices Take a Big Jump
You've probably noticed your dollar not going quite as far as it used to at the gas pump.
I know a few months ago I noticed this myself. I generally don't look at gas prices myself these days, after all, I survived gas prices of over $5 a gallon back in 2009. However, a few weeks ago, I noticed my standard $20 gas purchase wasn't moving the needle quite as far as it did several months ago, and certainly not as far as it did a year ago.
Quietly, from year-to-year, our gas prices have gone up $2 per gallon in a year.
We had been slowly creeping up to that round number for a few months now, but this month's increase was a big, big jump, and hopefully not a sign of things to come.
Gas prices in Louisiana are up 20 cents from last month.
You probably guessed it, but COVID-19 is certainly to blame for the uptick in gas prices. AAA spokesperson Don Redman says, "It certainly is a reflection of the cutback in production from oil-producing countries as well as refineries that we have seen all through the lockdown.”
While the rise in gas prices is bad news for you and me, it's actually a good sign for the oil industry in our state. Redman says, "We are seeing the price of crude, which at one point during the summer had dipped below 30 dollars a barrel, is now back over 50 dollars a barrel."