War still rages in Ukraine, OPEC cuts production, the Saudis announce production cuts even deeper than what OPEC planned... but gas prices have been steadily falling all month. That decrease may be about to end.
Demand for gasoline hasn't kept up, according to Don Redman with Louisiana AAA, and that is why prices have been drifting south.
"However, that sluggish demand is about to end," Redman cautioned. "We're forecasting a record number of people traveling for 4th of July this summer."
AAA forecasts 50.7 million people journeying 50 miles or more for the 4th of July weekend, a new record for the holiday.
Redman says that increase demand may not cause an increase, but overall he expects prices to hold steady through the 4th of July.
"Those well-traveled areas, closer to the interstate, may take advantage of the big push of drivers for the holiday, but I think overall, the prices kind of moderate where they are," said Redman.
The Current Average for a gallon of regular gas in New Orleans is $3.10. A year ago it was $4.44.
