If it feels like gas prices haven’t changed much lately, you’re not imagining things. According to GasBuddy’s Patrick De Haan, drivers in the New Orleans area have been enjoying stable prices at the pump, and there’s little reason to expect any big jumps in the near future.
Right now, the average price for a gallon of gas in the metro area is hovering around $2.78.
De Haan says that’s thanks in part to OPEC ramping up production earlier this year, helping to cushion any global economic disruptions that might normally send prices soaring.
And while international unrest often leads to fuel price volatility, De Haan says the effects this time around have been minimal.
In fact, the biggest threat to prices may be closer to home with the potential for a Gulf storm during hurricane season being the only real wildcard.
Another trend? Economic uncertainty appears to be changing driver behavior.
“We’re seeing more people stay closer to home this summer,” De Haan notes.
Fewer road trips could mean continued demand stability and even more relief at the pump as we head into fall.
Unless weather throws us a curveball, De Haan says we’re on track to enjoy consistent prices through the end of the year.
"If we make it through storm season into the fall without a storm causing any major distruction between Texas, Louisiana, and Florida, we should stay under the three dollar mark at least until the end of the year."
