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Rising gas prices affecting travel plans and businesses

1 year 10 months 2 weeks ago Sunday, June 05 2022 Jun 5, 2022 June 05, 2022 7:10 PM June 05, 2022 in News
Source: WBRZ

BATON ROUGE - Gas prices continue to rise, reaching approximately $4.43 per gallon across the state. 

"I'm filling up usually every other day and it's costing me about $88-$90 to fill my tank," Ryan Milhet said.

The sticker shock at the pump isn't only affecting summer travelers. It's also affecting those in lawn services like Kenny Levy, who puts more gas in his mowers than in his own truck.

"The gas I'm using for my lawnmowers takes more than what this truck does, so gas got to go down or people will start losing work," Levy said.

Levy says he cuts about 16 lawns and these prices are putting a strain on his business.

"I can't afford to keep it up. If this lasts all summer there's no way I'm going to be able to keep doing it."

Louisiana recently saw a historic high back in March when it topped $4 a gallon. Experts say the war in Ukraine is partly to blame.

"The two factors that are leading the higher prices today is number one: the economic activity as we recover from the pandemic globally. Number two: the crisis in Ukraine," LSU Professor Gregory Upton said.

Now, Louisiana is steadily seeing a new historic hike almost daily.

Within a day, prices for regular grade gas in the Baton Rouge area rose about three cents and rose nearly 24 cents from just a week ago, according to AAA.

"Beginning in May, and all the way up to now, it's just a continual daily march upward," Don Remand with AAA said.

Experts recommending that you prepare for the worst.

"There doesn't appear to be any immediate horizon that would reduce those prices, so we're advising our members to budget for near historic highs or at historic highs. At least $4.50 a gallon, or potentially even higher," Remand said.

For some, the high prices will likely keep them from traveling this summer, trying to save money any way they can.

"I fill up, at least every two-and-a-half weeks maybe three. And I try not to go many places," Courtney Brown said.

For now, there is hope for relief, but it's still a ways off.

"Over the next year, futures markets are anticipating that oil prices are going to go down about $95 a barrel and actually in a year from now we can anticipate to see gasoline prices under $3 a gallon again," Upton said. 

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