Gas prices slowly declining

October 23, 2017 - 4:46 pm

(WWL.com) -- Gas prices are on a slow decline, but motorists are still paying more than they did at this time last year. AAA fuel analyst Don Redman says the statewide average price for regular gasoline is $2.22.

“So we’ve seen about a 15 cent decrease and I think the current trend is for those prices to continue to march down.”

A year ago the statewide average was $2.09. Redman says expect gas prices to decline towards that figure as the weeks go by.

“It’s very possible for the end of the year that we could be looking at gasoline prices statewide from $2.00 a gallon to $2.10 a gallon.”

Nationally, the average price at the pump has fallen for 15 of the last 20 days. Redman says OPEC meets next month and if they decide to cut back on oil production, it could cause gas prices to drop in the United States.

“I think you might see North American oil production pick back up, ramp back up so that by 2018 we might be in a better position, see numbers similar to what we saw in 2016, which were considerably cheaper.”

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