Why you’re seeing higher prices at the gas pump

(Aaron Walling/KVLY)
Published: Nov. 17, 2021 at 3:57 PM CST
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SHREVEPORT, La. (KSLA) - Have you noticed a jump in gas prices recently? You’re certainly not the only one.

According to AAA, the price of crude oil is to blame.

“The prices that we’re seeing at the pump now are prices we haven’t seen since 2014. It has everything to do with the price of crude oil which is hovering around $80 a barrel, which is fluctuating between $79-$85 dollars a barrel,” said Don Redman, AAA spokesperson.

Research shows the cost for gas in Louisiana is just over $3, that’s up over a dollar compared to the same time last year.

Another factor for the increase and fluctuation There are several other factors for the increase and fluctuation of gas prices right now. One factor is that the economy is in recovery mode from the COVID-19 pandemic.

“It’s just a big global recovery. Oil is sold in the futures market, on the global market and it’s an indication that the economies are growing coming out of a pandemic now,” said Redman.

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