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LOGA addresses spike in gas prices

California moves to end sales of new gas-powered cars by 2035
Posted at 5:48 PM, Aug 12, 2021

You may have noticed that the price of gas is going up.

According to AAA, the average price of gas is $3.19/gallon. In our area, we're paying less than that, about $2.82 a gallon. That's about a dollar more than a year ago.

KATC spoke with the president of the Louisiana Oil and Gas Association, Mike Moncla, who said the recent spike has to do with supply and demand.

A year ago, people were still at home with the pandemic and now people are starting to go out again. Moncla also said despite the increase, gas remains a cheap fuel.

"I challenge you to find a cheaper liquid by the gallon anywhere in the world beside something you put your hose at your house up to. It's still the cheapest liquid on Earth and hard working people of the oil and gas industry are going to continue to provide cheap fuel for the world."

President Biden's National Security Adviser Jake Sullivan Wednesday called on the Organization of the Petroleum Exporting Countries (OPEC) to "move faster to restore global supply of petroleum to pre-pandemic levels," and the White House asked the Federal Trade Commission to investigate the domestic gasoline market for any "anti-competitive" behavior that could be increasing prices, the Associated Press reports.

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