Average retail gasoline prices in Louisiana have fallen 6.2 cents per gallon in the past week, averaging $2.19/g yesterday, according to GasBuddy's daily survey of 2,436 gas outlets in Louisiana. This compares with the national average that has fallen 3.3 cents per gallon in the last week to $2.41/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Louisiana during the past week, prices yesterday were 14.8 cents per gallon higher than the same day one year ago and are 11.8 cents per gallon lower than a month ago. The national average has decreased 12.9 cents per gallon during the last month and stands 17.3 cents per gallon higher than this day one year ago.
According to GasBuddy historical data, gasoline prices on December 18 in Louisiana have ranged widely over the last five years:
$2.05/g in 2016, $1.80/g in 2015, $2.30/g in 2014, $3.05/g in 2013 and $3.05/g in 2012.
"As we approach Christmas, average gas prices in the U.S. have fallen to their lowest point in 110 days, just as Hurricane Harvey began causing prices to spike, not exactly the Christmas gift some hoped for, but it's about time nonetheless," said Patrick DeHaan, head of petroleum analysis for GasBuddy.
"As long as demand for gasoline continues to weaken, gasoline inventories will continue growing and it'll be the gift that keeps on giving. In addition, the gap between prices today and a year ago is also at its narrowest in months, highlighting that prices are moving in the right direction for many.
“ As we look towards our annual Fuel Outlook being released just after the New Year, there are some bright spots along with some concerns that lay ahead for 2018."