Gas prices likely to remain high and volatile through summer months, experts predict

Published: May. 11, 2022 at 5:29 PM CDT
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NEW ORLEANS (WVUE) - Many New Orleans drivers are waiting in long lines at cheaper gas stations trying to pay as little as possible for gas, but it’s a tall order.

The pain at the pump is real, and future projections aren’t good.

“The size of my tank... it was worth the wait in line to save the 50 bucks,” said driver Mike Farley.

Farley put $150 worth of gas in his pickup truck at Sam’s on Airline Highway. At $3.79 a gallon, it’s some of the cheapest gas in the metro area.

the quest for cheap gas
the quest for cheap gas(rob masson)

For most, it’s still too much.

“It’s going to be about $75 to $80 to fill up my car. It used to be $50. It hurts my pocketbook. It really hurts,” said Ashaki Dabney, who drove 20 miles out of her way to save about $.30 a gallon.

“Louisiana previously set a record high for a state-wide average in March. That was $4.16 a gallon. It’s on its way back up and the current state average is now at $4.06,” said Nick Chabarria, with the American Automobile Association.

AAA says drivers are paying between $40 to $85 more a month for gas, depending on where they live.

“It is certainly headed in the wrong direction and drivers would like to see it come down in the summer,” said Chabarria.

Long lines at gas stations may be with us for a while. AAA says these prices aren’t coming down anytime soon.

“It’s going to be a roller coaster ride like we have seen the last six months. There’s still a lot of volatility,” said Chabarria.

Many are having to cancel summer trips, or shorten them.

“It’s an adjustment. Depending on where I want to go, [gas prices] will select where I wanna go and how far I go.” said one driver.

Kathryn Milton says travel for her this summer, is out.

“No, not at all. I will be at the movies and be at home. A homebody,” she said.

Dabney says her husband is working extra hours to try and cover the high price of everything. With no end to inflation in sight, she and others will cut out what they can as they try and cover spiraling costs.

More: US inflation dips from 4-decade high but still causing pain

AAA says the high demand for diesel and jet fuel is driving up the cost of crude oil. They also say a COVID-19 lockdown in China is also contributing to high gas prices

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