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Gas prices expected to continue rising through the summer

5 months 3 weeks 4 days ago Friday, June 03 2022 Jun 3, 2022 June 03, 2022 6:49 PM June 03, 2022 in News
Source: WBRZ

BATON ROUGE - As people begin to travel more for the summer, gas prices are still putting a burden on drivers.

"I'm filling up usually every other day," Ryan Milhet said. "It's costing me about 80 to 90 bucks to fill my tank."

"Gas has got to go down or people are going to start losing work," Kenny Levy said.

The cost of gas reached record highs in Louisiana in March and it's only gotten worse since. The price per gallon varies by 10 cents or more across the capital area, depending on the gas station.

"We're looking at a nationwide average of $4.76 a gallon," said AAA Public Affairs Specialist Don Redman. "Which is about 40 cents more than what we're paying here in Louisiana."

Experts say the war in Ukraine is partly to blame.

"Really the two factors that are leading to the higher prices today," said Gregory Upton, Associate Professor for the LSU Center for Energy Studies. "Number one: the economic activity as we recover from the pandemic globally. Number two: the crisis in Ukraine."

"It's affecting the economy as a whole," Milhet said.

However, Professor Upton says there is hope.

"Over the next year, future markets are anticipating that oil prices will go down to about $95 a barrel," Upton said. "Actually, in a year from now, we can anticipate a gallon of gas to go under $3 again."

For now, Drivers are doing everything they can to save a few bucks at the pump.

"I try not to go too many places either," Courtney Brown said.

AAA says the top three roadside assistance calls are for flat tires, lockouts, and dead batteries. They expect to see drivers stranded with empty tanks added to that list.

"The best strategy is to hunker down, budget accordingly," Upton said. "And just know fluctuations happen during globally trading commodities, and that's what we are seeing today."

Prices are expected to continue to rise during the summer before dropping some in the fall.

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