Lafayette

Feb 18, 2013 7:47 PM by Allison Bourne-Vanneck

Gas Prices Going Up

It's not good news at the pump. Gas prices are up, and today marks 32 consecutive days of increases in gas prices. In Louisiana, the average price of a gallon of regular is $3.56, which is up 35 cents in the last month alone.

When gas prices go up it's hard for consumers, but also hard for small business owners like Richard Young, who owns an event rental company in Lafayette.

"We have a fleet of about 30 trucks so when the fuel price fluctuates it effects us dramatically. So if we charge 30 dollars for a delivery fee and fuel goes up 20 percent, you know we usually have to eat that," Young said.

He says the price of diesel has especially been tough.

"If it's a month ago at $3.70 and now it's close to four dollars, it has a huge impact on small businesses," Young said.

The impact will continue for business owners like Young, as prices continue to climb.

"It's kind of normal to see gas prices go up, but not this high," Don Briggs, president of the Louisiana Oil and Gasoline Association, said.

Briggs says the price of oil has risen about 12 dollars a barrel since the middle of December.

"We have seen a pretty big hike in prices, and it's still continuing to climb. Lot to do with the geo politics and the fact that we're changing out. The refineries are going from the winter blends to the summer blends and doing repairs on their refineries," Briggs said.

For now, small businesses and consumers can only hope that prices drop.

"It's something beyond our control and it's a charge usually that we can't pass on to our clients," Young said.

While prices are going up, prices in Louisiana are still lower than the national average by about 17 cents.

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