Just when you thought it was safe to take a road trip, gas prices make a huge jump.
According to AAA spokesman Don Redman, gas prices have increased by 15 cents per gallon in the last week along. In the past month, the price of a gallon of regular gasoline increased by about 25 cents.
Redman warns: there's no relief in sight.
"I would definitely budget for the remainder of the summer $3.50 to $3.75 a gallon," Redman said.
Although Americans' consumption of gas is down, other factors are causing gas prices to increase dramatically.
"It's largely due to the fact that we're seeing an increase in the price of crude, which is now hovering around $80 a barrel versus closer to $65 back in the spring before the summer season started in earnest," Redman said. "The cuts by OPEC and other aligned oil-producing countries that they announced a couple of months ago are now really affecting the market."
Redman says another factor driving up gas prices is the heatwave battering the United States.
"You've actually had some refineries have to close down or (have) slowages largely due to the fact of fears of brownouts, and now we're even talking about potentially blackouts in some parts of the country," Redman said.
Redman says if you see gas prices start dropping significantly, it could be a sign of a recession.
"I think if the economy starts weakening, then I think you'll start seeing the prices of crude come down, which isn't necessarily good news for the consumer," Redman says. "We just want those prices to come down without it meaning there's a slowdown for the economy."
According to AAA, as of July 28, the average price of a gallon of regular gas in Louisiana is $3.32 a gallon. Locally, St. Bernard Parish has the lowest average gas price of $3.27 a gallon. The highest average prices are in St. James Parish and Plaquemines Parishes, where the average price is $3.51 a gallon.
