B.R. gas prices rise 7.5 cents on the week

Over the past two weeks, U.S. oil prices have regained about one-third of the $30 a barrel they lost in late June, and it appears the rebound is having an effect on end prices at the pump. The average price of a gallon of unleaded gas rose 7.5 cents on the week in Baton Rouge, according to BatonRougeGasPrices.com, a subsidiary of GasBuddy.com, which tracks average prices at 250 cities throughout the country. As of this morning, local prices were averaging $3.18 a gallon, which was still well below the $3.42 national average. Compared to a year ago this week, prices are also about 38 cents lower in Baton Rouge, and are down a little over 3 cents compared to last month. The national average has decreased about 25 cents on the year and is down 11 cents from a month ago. “Those who stuck around the low gas price party expecting it to last have realized they’re out in the cold,” says GasBuddy.com senior petroleum analyst Patrick DeHaan. “Oil prices are well off their recent lows, and we’ll likely continue to see the national average rise in response. Most regions should see prices rising.” Check out the website here for local station-by-station prices. Oil prices climbed for a fourth day today on hopes that the Federal Reserve will take additional steps to prop up the economy. Benchmark U.S. crude rose $1.33 to end at $88.43 per barrel in New York, while Brent crude rose by $1.95 to finish at $103.37 per barrel in London.