Gas prices declined slightly along with temperatures in Louisiana. Don Redman of AAA Louisiana said the average price for a gallon of regular gasoline in the state of Bayou today is $3.39.
“We’ve only gone down slightly in the last few days. A week ago we were three cents cheaper. So we sneaked up. In fact, AAA had advised its members to budget around $3.50 per gallon because there are so many uncertainties,” Redman said.
Redman said it doesn’t look like prices will go that high as prices are now slowly declining.
However, he said it was good news, bad news situation. Redman said prices would fall due to the fall in crude oil prices. He said it fell to $82 a barrel, which is about $10 down from a few weeks ago.
“This comes largely because of global concerns about an economic downturn. In fact, according to data from the Department of Energy, demand has declined significantly over the past week from a year earlier,” Redman said.
As for gasoline prices for the vacation travel season, as surveys suggest more people are planning to cut travel budgets, Redman said futures markets are predicting lower gasoline prices.
“Looks like we may be looking at prices near $3.10 by the holidays,” Redman said.
A week ago, a standard gallon of gasoline in Louisiana was $3.36 a gallon, a month ago $3.15, and a year ago $3.07.
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