After the hurricane, gas prices remain low while oil supply is high

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Posted: Sep 2, 2020 7:04 AM

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    SHREVEPORT, La (KTBS) -- Experts say despite the after effects of Hurricane Laura gas prices remain low.

Michael Moncla, interim president of Louisiana Oil and Gas Association, says it's all about a large supply and low demand.

"Well, I mean, the pandemic is obviously all over the country," Moncla said. "So, it has created a decrease in the amount of oil or gas that people are using. So, the oil or gas that's on the market is, there's a surplus of it. So, that's why you're seeing low prices. And I will go on record and tell you that the cheapest liquid you can find is gasoline."

KTBS-3 talked to customers at several local gas stations and found the prices to be quite cheap.

Clarence Thomas, a Shreveport resident, commutes to Natchitoches everyday for work.

"From last week to now, I can say it's about three-to-four, cents-wise," Thomas said. "Like I say, I don't see why the jump. I can't get it as far as the devastation and what the government tried to do (for recovery). It's a travesty or something down there. As far as here, power outages, and down there in Natchitoches, where it's really terrible down there."

Shalissa Roland, public relations for Shreveport-Bossier Convention and Tourism Bureau, says she isn't sure how lower gas prices will determine travel plans. She says many customers have inquired about driving to tourist sites in the area.

"I do believe people are becoming more comfortable traveling," Roland said. "They are figuring out where there space is. How they can get their foot in, as far as excitement and fun in the midst of a pandemic. You are seeing people taking those rural road trips. Maybe on the Boom-or-Bust Byway. Or one of the local parks."

Roland says it's an encouraging sign for small business owners in the tourism industry.

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