Louisiana Drivers Shouldn’t Get Comfortable With Low Gas Prices
Just yesterday we reported the news that nationwide the price of gas had dropped about seven cents over the past week. That was great news for most drivers. Especially when you consider that just one year ago we were paying about .19 cents more for a gallon of regular gas than you or I might pay today.
Well before you put the pedal to the metal and burn up a tank of gas on foolish errands let me warn you that gas industry analysts see a rise in the price of fuel coming. First things first, this is the time of year when fuel prices are traditionally their lowest. So, not only do we have a seasonal swoon in gas prices there are other economic factors aiding the current low pricing aspects for fuel.
Don Redman, a fuel industry analyst with the American Automobile Association, is suggesting that the lower prices will likely hold through February but look out for March. The leaders of OPEC are expected to meet during March and the outcome of that meeting could have a significant effect on fuel prices around the globe.
One more reason motorists could see an uptick in fuel prices in March is the industry's semi-annual migration from winter blends to summer blends. That change over coupled with OPEC news and other global economic issues could put the price of gas in the state as high as $2.50 a gallon by May.
Which is about the time you'll be thinking of filling up the car with fuel, loading up the family, and heading on vacation. Coincidence? Nah, nobody could plan something like that could they?