MONROE, La., (KNOE 8 News) - A Senior Gasbuddy Petroleum Analyst said it all this morning. Reacting to the upward movement of prices, Patrick DeHaan remarked, "...if motorists think this is bad, they should really hold onto their chairs."
And while this week's movement continues the trend we've been seeing for several months, the worst is obviously yet to come. Oil prices have already hit new highs, and this past week, Iran curtailed its flow of oil because of its unhappiness with recent moves by England and other countries on the continent. This reduced flow of oil will quickly result in higher oil prices, which will then be reflected in the cost of our gasoline.
Today, we in Louisiana are paying almost a half-dollar more per average gallon than we were a year ago...and 20.7¢ a gallon more than just a month ago. The per gallon average at the beginning of this week had hit $3.47 per gallon, up .04¢ from the previous week. During the same period, the national average went up 4 1/2 cents a gallon to $3.51 a gallon.
As to those repeating predictions that we'll see a national average at $5 by May...count on it. This week $5 a gallon gasoline was already being reported in at least one area in California.
