While gas prices in the New Orleans area average $2.88 per gallon, the price at the pump can vary greatly from gas station to gas station. Many in the region may be wondering where the wide discrepancies come from. Patrick De Haan of Gas Buddy offers some insight, saying “It is normal to see some pretty wide discrepencies. Especially when gas prices or oil prices begin to decline, stations can lower prices at their will and choose to pass along the decrease all at once or slowly pass it along. Some stations may want to lower prices quicker and others may take a slower approach.”
The price of oil of course affects prices as well. The price of oil last week fell as low as $66 a barrel, but quickly rebounded back up to $71 dollars. Oil prices can be volatile and change on a daily basis. That affects the wholesale costs stations have to pay … a cost they generally pass on to the consumer. De Haan is also quick to note that while hurricane season is in its waning weeks, any threat in the Gulf of Mexico will immediately cause prices to jump. That said, if things remain calm, De Haan points to the general rule that prices will fall … in the fall.
AAA says the current average in the New Orleans area is $2.86 for a gallon of regular.
That’s down two cents from yesterday.