Louisiana Gas Prices Take Another Big Jump, Expected to go Higher
Louisiana driver's pain at the pump has just jumped by a lot in only one week's time. The current geopolitical climate including the ongoing military actions in Ukraine have set the stage for many Louisiana motorists to be leaving even more of their paychecks at the fuel pumps and the outlook is not favoring lower fuel prices anytime soon.
A check of fuel prices, as reported by the American Automobile Association, suggests that $4.00 a gallon gas is coming to Louisiana and it will likely get here sooner than later. Here's the way fuel prices are looking as you plan your workweek.
First, things first, the national average for the price of regular fuel has now jumped to $4.00 a gallon. Keep in mind that is the national average. That average price includes 10 states where fuel prices are closer to $5.00 a gallon than $4.00 a gallon. Yeah, if you're driving on the West Coast you might want to take out a loan if you have any road trips planned.
Incidentally, the last time the national average for a gallon of regular gas was above $4.00 a gallon was in 2008. Fuel prices around the country have increased by an average of .14 cents since last Friday. The price of gas in the United States has jumped by almost .50 cents since Russia invaded Ukraine a little less than two weeks ago.
For Louisiana drivers, the pain is still palpable but not nearly as excruciating as motorists along the West Coast and the big cities of the Northeast are feeling. Fuel prices in Louisiana have jumped by a nickel from yesterday to today. Over a week's time, gas prices in Louisiana have risen from $3.37 to $3.87 a gallon. That's an increase of .50 cents a gallon.
Triple-A, the American Automobile Association says we should expect gas prices to climb even more over the next several weeks. In fact, the prospect of $4.00 for a gallon of regular gas might be realized by next weekend.
In a parish by parish breakdown for motorists in South Louisiana, Iberia Parish drivers are currently paying the least for fuel. The average cost for a gallon of gas in that parish is $3.83. Meanwhile, in Lafayette Parish, the average price for a gallon of regular gas is $3.91.
Prices for fuel in Southwest Louisiana suggest that Cameron Parish is the better place to fill up right now. The average price in that parish is listed as $3.74 a gallon while neighboring Calcasieu Parish is reporting an average cost of $3.88 a gallon.
If you're wondering how these price increases will affect your household budget we got some figures for you to consider. The average American household uses about 90 gallons of fuel per month. So an increase of .50 cents per gallon would take an additional $45 dollars out of your family budget. Over a year's time that's an extra $540 dollars, you'll be putting into your tank instead of your savings account.
When will skyrocketing fuel prices start to fall or at least not rise so quickly? That's a question that economists and oil industry experts can't answer right now. Obviously, the conflict between Russia and Ukraine and how that plays out will be a contributing factor but in the meantime, you'll want to tighten your belt, plan your travels, and maybe invest in a good pair of walking shoes.
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