After the storms, people in New Orleans flocked to gas stations in order to stock up on gasoline, causing long lines to form. The increased demand coupled with refineries losing power and the impact to the oil industry, prices shot up.
According to GasBuddy, the price of gas in New Orleans has risen 15.9 cents since Ida hit August 29, bringing the average price per gallon to $2.92. This average is about 14.8 cents higher than a month ago and $1.09 higher than September 7, 2020.
"As expected, Hurricane Ida's disruption to the oil and refining industry led gas prices to rise over the last week," said Patrick De Haan, head of petroleum analysis for GasBuddy.
New Orleans gas prices are lower than the national average of $3.17, the news outlet reports. Despite the higher price tag, there is reason to hope that prices decrease soon.
"With several Louisiana refineries poised to have power restored in the days ahead, the impact on gas prices could soon reverse," said De Haan. "And with gasoline demand now likely to decline with the close of the summer driving season, I see the odds rising that gas prices will soon begin a seasonal downturn," adding, "By Halloween, we could see the national average back under $3 per gallon."