Local drivers see sharp jump in gas prices

New Orleans, LA. - Drivers in New Orleans are feeling pain at the pump.  The cost of gasoline jumped significantly in the past week, rising by nearly 13 cents a gallon.  According to GasBuddy.com, the average cost of gasoline in the New Orleans area is $3.41 a gallon up 12.7 cents from the week before.

Including the change in gas prices in New Orleans during the past week, prices yesterday were 23.8 cents per gallon higher than the same day one year ago and are 7.8 cents per gallon higher than a month ago. The national average has increased 0.4 cents per gallon during the last month and stands 19.5 cents per gallon higher than this day one year ago.

"Nationally, gasoline prices have begun moving upward yet again. I suspect that the unrest in Egypt is playing a significant role in pushing crude values higher, and thus retail gasoline prices higher as well," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "The market is seemingly quite sensitive to the situation in Egypt as the Energy Information Administration has reported two consecutive weeks of large declines in crude oil inventories, drawing concern that a loss in Middle Eastern crude would mean continued declines in inventories stateside," DeHaan said.