Gas prices keep falling

Gas prices keep falling

(WVUE) - Average retail gasoline prices keep dropping. According to GasBuddy's daily survey of 415 area gas outlets in New Orleans, drivers are paying about $1.57/gallon for regular unleaded. That is nearly $0.03 less than last week.

According to, prices yesterday were $0.27/gallon lower than the same day one year ago and $0.17/gallon lower than a month ago.

Nationally, prices have fallen 2.5 cents per gallon last week. "February looks to start the month with gasoline prices averaging under $1.80/gallon nationally, the lowest level since January 16, 2009," Patrick DeHaan, senior petroleum analyst said. "Crude oil prices have rebounded back above $30 per barrel in the last two weeks and with more talk of an organized cut in oil output between some of the world's largest producers, there may be more upside potential in the future, should those talks pan out. For now, due to a lag time from rising oil prices,  gasoline prices in many areas may continue to drift lower, but don't be caught by surprise if in a few weeks they revert and move higher."

DeHaan also said refiners have begun doing winter maintenance, which means once the surplus is liquidated, prices could go up.

Areas nearby New Orleans and their current gas price climate:
 Baton Rouge- $1.56/g, down 2.2 cents per gallon from last week's $1.58/g.
 Mobile- $1.59/g, down 2.1 cents per gallon from last week's $1.61/g.
 Louisiana- $1.60/g, down 2.7 cents per gallon from last week's $1.62/g.

Copyright 2016 WVUE. All rights reserved.