Labor Day fuel prices forty cents lower than last year

Statewide average is $2.19

Don Ames
August 31, 2019 - 8:41 am

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Labor Day Weekend gas prices are down 40 cents a gallon from where they were this time last year, and down 16 cents in just the last month alone.

AAA Fuel Analyst Don Redman says this time last year we were paying about 2.60 a gallon during one of the busier times for road traffic. He notes for Gulf South states those low numbers aren’t necessarily comforting.

“For us in Louisiana and a lot of the Gulf States it’s a double-edged sword, but we’re seeing that the crude price is still hovering above 55 dollars a barrel which is still pretty profitable for the oil companies.”

Louisiana’s current statewide average is 2.19, while the national average is 2.58 a gallon.

There’s already gas stations in Louisiana, particularly in the Capital City Region seeing prices under two dollars a gallon. Redman says it may not be long before that’s the norm. New Orleans is also seeing some of the state's lowest prices

“The state average as we get into September, October, we could see at or below two dollars a gallon.”

Redman predicts prices will continue to slip in the long term, but the huge dip we’ve seen recently may freeze in place while the industry keeps tabs on a storm that could enter the Gulf.

“All eyes are going to be on Dorian and see what that storm does and what it could mean, so we could potentially see a bump in prices until that storm passes.”

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