Louisiana Gas Prices Reach Nearly Two Decade Low
The price of gas is cheap but nobody can go anywhere. Ain't that life? While our ability to move about the state and the country freely may have been curtailed by the coronavirus threat. It, along with other global economic influences, has really made driving affordable. That is if we dared to get out and go somewhere.
As you know in Louisiana low gas prices are a delicate and dangerous double-edged sword. The feel-good effect of low gas prices often means not feeling so good effect of struggles in the oil patch. Thanks to the coronavirus and overproduction from OPEC and Russia the roller coaster that is the oil business is certainly moving along the lower tracks.
Forecasters with the American Automobile Association say that the current statewide average price of $1.93 for a gallon of regular fuel could and will likely drop even lower. Analysts say they haven't seen prices this low since the 9/11 attacks.
Back in November of 2001 gas prices averaged about $1.11 a gallon. Analysts say prices similar or even lower than that could be showing up at the pump within the next few weeks. But how low they will go and how long they will stay are going to be dependent on the nation's response to the coronavirus threat and the actions of OPEC and Russia on the global markets.