Louisiana gas prices fall to lowest level in months

MONROE, La. (KNOE) - The people of Louisiana, especially those in the Monroe area, are seeing some of the lowest gas prices in the country as prices fall to levels not seen in about five months.

According to the website, GasBuddy.com, the national average has dipped to roughly $4 a gallon for regular fuel. In Louisiana, it’s even lower: $3.64 a gallon.

Prices in the Monroe/West Monroe area are on the lower end of that average too, with some users on Monday reporting prices as low as $3.23 (Sam’s Club in Monroe) to $3.25 (West Monroe Walmarts) to $3.27 (West Monroe Super 1, Raceway, Circle K/Well Road.)

Here’s a look at how price averages stack up in the state’s metro areas, from lowest to highest.

Aug. 8, 2022 Average Gas Prices (Regular)

Monroe: $3.38
Lake Charles: $3.51
Shreveport: $3.51
Alexandria: $3.53
Houma-Thibodaux: $3.53
Lafayette: $3.56
Baton Rouge: $3.58
Hammond: $3.60
New Orleans: $3.78

GasBuddy attributes the falling price of gas to a “Federal Reserve that’s likely to continue raising interest rates at an aggressive pace to tame inflation, especially after last week’s jobs report showed more jobs were added in July than expected.” West Texas Intermediate crude oil down $6 from last Monday and Brent crude oil is down about $8. GasBuddy says oil prices could continue to drop due to a slowing global economy. They also say the U.S. rig count is at 764, which is 273 higher than a year ago.