Prices higher than they are now, but lower than they were last summer
LAFAYETTE, LA (KADN) — "I just drive less anyway because I work a lot, and I try to conserve anyway I can bills, bills, bills," says Michael Pierre.
The thought on everyone's mind, how will gas prices effect our pocket books this summer?
"Actually, they're going to rise a little but not a great deal," says gas expert Don Briggs, President of Louisiana Oil and Gas Association.
But before you panic, the Federal Energy Information Agency predicts gasoline prices across the country will average about five cents less than they were last year.
"The reason for that is the fact that oil prices are lower than they were last year," says Briggs.
Oil makes up about 65 percent of the total cost of gasoline prices. Oil today is $94.00 a barrell, and this time last year it was $108.00. Although on average the gas prices this summer will be lower than they were last year, consumers are still not happy about what they're having to pay at the gas pump.
"I tell you what, I remember when gas prices were like 85 cents a gallon. Now they're $3.34 over here so that's ridiculous," says Matthew Thibodeaux.
Gas prices go up during the summer because the Environmental Protection Agency puts standards on the industry's summer production. Either way, it's hurting the consumer.
"I mean the cheaper they are the better. I mean I've got to drive back and forth to New Orleans everyday and that's just killing me," says David Landry.