Politics

Gas prices expected to continue rising through the summer


BATON ROUGE – As other folks start to trip extra for the summer season, fuel costs are nonetheless placing a burden on drivers.

“I’m filling up usually every other day,” Ryan Milhet mentioned. “It’s costing me about 80 to 90 bucks to fill my tank.”

“Gas has got to go down or people are going to start losing work,” Kenny Levy mentioned.

The price of fuel reached document highs in Louisiana in March and it is only gotten worse since. The worth consistent with gallon varies by way of 10 cents or extra around the capital space, relying at the fuel station.

“We’re looking at a nationwide average of $4.76 a gallon,” mentioned AAA Public Affairs Specialist Don Redman. “Which is about 40 cents more than what we’re paying here in Louisiana.”

Experts say the struggle in Ukraine is partially guilty.

“Really the two factors that are leading to the higher prices today,” mentioned Gregory Upton, Associate Professor for the LSU Center for Energy Studies. “Number one: the economic activity as we recover from the pandemic globally. Number two: the crisis in Ukraine.”

“It’s affecting the economy as a whole,” Milhet mentioned.

However, Professor Upton says there’s hope.

“Over the next year, future markets are anticipating that oil prices will go down to about $95 a barrel,” Upton mentioned. “Actually, in a year from now, we can anticipate a gallon of gas to go under $3 again.”

For now, Drivers are doing the whole lot they are able to to save lots of a couple of greenbacks on the pump.

“I try not to go too many places either,” Courtney Brown mentioned.

AAA says the highest 3 roadside help calls are for flat tires, lockouts, and lifeless batteries. They be expecting to peer drivers stranded with empty tanks added to that record.

“The best strategy is to hunker down, budget accordingly,” Upton mentioned. “And just know fluctuations happen during globally trading commodities, and that’s what we are seeing today.”

Prices are anticipated to proceed to upward push all over the summer season ahead of losing some within the fall.



Source hyperlink

Leave a Reply

Your email address will not be published.