Gas Prices Rise For Second Straight Week In Louisiana

One of Bruce and the Kennel Club's regular contributors, Jeff Landry, made headlines a few years back when he held up a sign during a speech by President Obama.

That sign read DRILLING = JOBS. That was during the moratorium on offshore drilling following the Deepwater Horizon incident.  Recently there have been other concerns in the oil patch concerning jobs and the price of oil.

While consumers might be enjoying paying almost a dollar less per gallon this year than they were at the same time last year, many feared the low price could come with a cost. That cost would be jobs in our state as producers have to tighten their belts to maintain profitability.

But as many experts have predicted the price of gasoline has begun to rise. This is the second straight week that Louisiana consumers have been asked to pay a little more at the pump. This past week prices for gas around the state were up by an average of .02 cents per gallon. That puts the state average price at $1.86

According to those in the know there is always a seasonal jump in gas prices as the refineries switch from the summer blend of gasoline to the winter blends. It is not uncommon for prices to increase by .30 or .60 cents during this transition period. Another indicator that oil prices could be rebounding is the .20 cent per gallon increase in wholesale gas prices. These prices will eventually be passed on to you and I.

The past two trading days, last Friday and yesterday, oil prices have seen an 11% increase in the price per barrel. That's an increase of about $4 dollars per barrel. Some speculators believe the oil market has reached its bottom and is on the way back up. That is good for jobs in Acadiana, but not such pleasant news at the pump for motorist.