New Orleans gasoline prices down 21 cents in past month, may have hit 2022 peak, analyst says

Gasoline prices in New Orleans have dropped 21 cents per gallon over the past month and may...
Gasoline prices in New Orleans have dropped 21 cents per gallon over the past month and may have hit their 2022 peak, an analyst said Monday (April 11).(David Zalubowski | AP)
Published: Apr. 11, 2022 at 7:00 AM CDT
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NEW ORLEANS (WVUE) - Gasoline prices in New Orleans have dropped more than 21 cents per gallon over the past month, and might have hit their 2022 peak, a fuel price analyst said Monday (April 11).

The average cost of a gallon of gas in the city fell to $3.96 per gallon, which is 6.4 cents per gallon cheaper than last week and 21.3 cents per gallon lower than drivers paid in mid-March, according to the most recent survey of 415 stations by the website GasBuddy.com.

“It remains possible that gas prices may have hit their 2022 peak, barring the typical caveats like the Russia war on Ukraine, the economy, hurricane season and Covid don’t take drastic and unexpected turns,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Gas prices have continued to move in the right direction -- down -- saving Americans approximately $100 million every day compared to when prices peaked about a month ago.”

The survey found gasoline prices at New Orleans stations last week ranged from $3.45 to $4.45 per gallon, depending on where a driver fueled up. The lowest price found in Louisiana was $3.39 per gallon, and the highest was $4.49 per gallon.

The national average fell by 7.5 cents per gallon in the past week, to $4.10, according to the website’s survey of more than 150,000 gas stations in the U.S.

“More good news is on the horizon,” De Haan said. “The national average this week will likely fall back under the critical $4 per gallon mark. Diesel prices are also falling and likely to go back under the $5 per gallon average this week. The situation for now continues to show signs of improving.”

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