Oil prices are nearing $80 a barrel, and gas prices are creeping up.
The average price of a gallon of regular in the New Orleans area jumped three more cents today to $3.10. That 17 cents more than a month ago.
It's that time of year when refineries are gearing up to make summer-grade gas, and the colder parts of the nation begin to thaw out and more people start taking road trips. It all means more demand pressure on a reduced supply.
"We're having less output by the refineries as they make that transition for summer-grade gasoline, and so that's creating a tighter market between supplies and demand," said AAA fuel prices analyst Don Redman.
Further price hikes are likely.
"It looks like that in the coming month, at least for the April delivery, you could be looking at Louisiana prices around $3.25 a gallon," Redman said, and he expects it could average $3.50 to $3.75 by Memorial Day.
Even so, Redman says this year's gas prices are trending close to last year's, maybe even a few pennies cheaper.
