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Already-decreasing gas prices to go down even more

1 year 8 months 6 days ago Thursday, March 31 2022 Mar 31, 2022 March 31, 2022 8:00 PM March 31, 2022 in News
Source: WBRZ

PLAQUEMINE - Drivers filling up their tanks at the Circle K in Plaquemine on Thursday noticed the price of gas going down since its recent spike, but they say it's still too high.

"Last week it was $4.20 here, but still terrible," driver Paul Plaster said.

"I only use it when I have to, especially when it's... $4.99 a gallon for diesel right now," driver Lin Rivet said.

Thankfully for commuters everywhere, relief could be in sight. President Joe Biden's plan to lower the cost of gas starts down the road at the Bayou Choctaw Strategic Petroleum Reserve in Iberville Parish. It's one of four petroleum reserves in the nation.

President Biden has ordered one million barrels of oil to be released from the reserves every day for six months. You can learn more about the reserves here.

"We'll use the revenue from selling the oil now to restock the strategic petroleum reserve when prices are lower," President Biden said.

However, the oil industry isn't sold on the plan.

"SPR is there for emergency use in case we have to go to war, and if you deplete that war reserve by trying to help Americans at the pumps, what happens if World War III starts, and we're short of oil?" Louisiana Oil and Gas President Mike Moncla said.

Biden also plans to charge companies a fee for unused leases on government land.

"We are using more federal leases than we ever have before, and the ones we aren't using, there is a reason," Moncla said.

At the end of the day, drivers just know they are ready to spend less.

"A lot of people have to go to work every day, and it's tough on them. You're making $20 - $35 an hour and spending $300 in gas just to go to work," Rivet said.

The Louisiana Oil and Gas Association says production is continuing to rise in Louisiana.

You can read more about Biden's plan here.

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