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Gas prices dropping in Baton Rouge

1 month 5 days 8 hours ago Wednesday, July 06 2022 Jul 6, 2022 July 06, 2022 10:43 PM July 06, 2022 in News
Source: WBRZ

BATON ROUGE - The average price of gas is down about ten cents from a week ago, but experts say drivers need to buckle up because this may be a bumpy ride. 

“Some consumers choose not to purchase the product, which ultimately brings demand down a bit which then increases supply and then prices follow,” explained Tommy Faucheux, the president of the Louisiana Mid-Continent Oil & Gas Association.  

While drivers may be a little more conscious about the gas they're burning, that's not the biggest reason why prices are down. 

“When gas prices started going up in the spring, we were sharing with everyone that the largest contributor to gas prices is the prices of oil,” Faucheux said. 

In the spring, a barrel of oil was well over a hundred dollars. Wednesday, it dipped just below a hundred dollars for the first time since May. But Faucheux was very clear on what is not having an immediate influence on prices. 

“There's very little that the white house or Washington can do to have an immediate impact on gasoline prices,” he said. 

Today the average price is $4.23. Yesterday it was $4.26. A week ago it was $4.32, and a month ago $4.43. But despite the drop, a lot of drivers agree it's still not good. 

“It needs to go way lower than that. They're ridiculous. They are just over the head, said Yvonne Bessie while getting gas. 

“It's ridiculous. Unfortunately for me, where I live in Walker and I work out here in Baton Rouge, I have to just deal with it,” agreed Bridgette Engel who was also getting gas. 

Americans across the country might be stuck with dealing with these fluctuating prices for the rest of the year.

“The price of oil matters. We need more domestic supply, and the white house and the administration can have a positive impact on that. They can set energy policies that tell Americans and American companies that they are going to have the opportunity to drill for oil on federal land,” Faucheux explained. 

Around this time last year, gas prices here were about$2.69. What we're seeing now is more than a 57% increase.

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