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Gas prices reach historic high, topping an average of $4.50 a gallon in Baton Rouge

1 month 4 weeks 23 hours ago Sunday, June 12 2022 Jun 12, 2022 June 12, 2022 7:20 PM June 12, 2022 in News
Source: WBRZ

BATON ROUGE - Another week down and relief for gas prices is no where in sight. 

Prices at the pump continue to rise on a daily basis and drivers are fearing the worst.

"The gas is killing me. I have to go back and forth to work, takes me like 15-20 minutes to get to work. Ten dollars ain't nothing but two gallons and that isn't going to get me to my house and back from work," resident Robert Bindon said.

Louisiana just recently saw a historic high back in March when gas topped $4 a gallon.

Experts say the war in Ukraine is partly to blame for the spike.

"We've seen western countries, such as the US putting sanctions on Russian oil, we've also seen companies that are servicing the oilfield services sectors in Russia, have pulled out and said 'we're not going to do economic activity within Russia anymore' and that is, again, restricting the supply of that oil to the global market which has put an upward pressure on prices," LSU professor Greg Upton said.

The national average hit a historic high, topping $5 a gallon Sunday morning. Here in Baton Rouge, it's now $4.50 a gallon, up nearly ten cents from just a week ago.

Even more alarming is the average price for gas this time last year was about $2.70.

"It use to be about $30 now it's like $60 every week and I do feel that in my budget but I just have to make the right changes," resident Shaun Johnson said.

"My tank right now to fill up, is about $110-$120," Bindon said.

The prices don't seem to be dwindling down anytime soon. We'll likely only see a small decrease into the fall.

"Right now markets are anticipating that the current price which is about $4.50 a gallon, is likely to be here through the end of the summer. So, once the fall comes and gasoline demand just reduces during the fall typically, relative to the summer, we'll see prices go down a little bit. Future's markets are anticipating by next spring, they'll be at around $3 per gallon," Upton said.

With the pain at the pump lasting all season long, drivers are thinking of alternatives.

"It's high, we're about to start riding bikes, I don't even know what else to do except ride a bike."

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