Drivers feel pain at the pump as prices spike - FOX 8 WVUE New Orleans News, Weather, Sports

Drivers feel pain at the pump as prices spike

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New Orleans, La. - Drivers in the New Orleans area are paying much more at the gas pump, as prices jump nearly 20 cents in the last week alone. The average cost of gasoline is now at $3.56 a gallon, 19.2 cents per gallon higher than last week. In the past month, the cost of gasoline has gone up 38.3 cents a gallon. According to GasBuddy.com's daily survey of 415 gas outlets in New Orleans.

Despite the sharp increase, gas prices are still lower than many other parts of the country.  Nationwide, gas is up 11.9 cents per gallon in the last week to $3.68 a gallon. Across the country, drivers are spending 42 cents more a gallon per gas than just one month ago. 

Including the change in gas prices in New Orleans during the past week, prices yesterday were 8.2 cents per gallon higher than the same day one year ago. Nationwide, gasoline prices are  16.7 cents per gallon higher than this day one year ago.

"The steady climb of retail gas prices is likely to continue following double-digit increases in wholesale prices with fuel production tightening in the majority of the country's refineries," said GasBuddy.com Senior Petroleum Analyst Gregg Laskoski. "Los Angeles has climbed to $4.28 per gallon with a 55-cent average price increase in the past month, and that rate was surpassed in Chicago ($4.09 average price) and Detroit ($3.86 per gallon average), where motorists saw 63- and 64-cent respective increases over the same period. New York crossed the $4 threshold too."

 

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