Prices could rise up to a nickel for the Thanksgiving travelers

Jim Hanzo
November 16, 2017 - 9:05 am
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New Orleanians have seen gas prices rise about a nickel in the last week.  But will those prices at the pump continue to go up during the Thanksgiving holiday travel season?   

Don Redman with Triple A calls it a little unexpected as gas prices have risen since the beginning of November, and they could go up a bit more for Thanksgiving travel.

"We've seen our inventories building but unexpectedly, beginning last month, into this month, we've just seen an upsurge in overall demand," says Redman. 

It's that demand that has the prices at the pump going up.   

"Typically for this late in the fall you don't have the kind of demand that we're seeing right now but nevertheless that's putting pressure on those gas prices," he says.   
 
Which Redman says is usually a good indication of a stronger economy.  

"It's very possible that we'll see the prices increase by about a nickel by the time we get into Thanksgiving," Redman adds.  

Nevertheless they could rise another nickel by next week.  Redman does believe by the end of the year, gas prices will be falling again. 

 Redman says it won't last and he figuring by the end of the year those prices will be on a downward trend. 

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