Gas Prices Heading Back Up — Local Layoffs Looming
I hate to be the bearer of bad news, but those gas prices are heading back up. In the past 3 weeks or so, gas has increased by roughly 8 cents a gallon. While we here in SWLA are experiencing some of the lowest gas prices in the country, right now the average price for "regular" is about $2.18 a gallon.
According to the Lundberg Report, the reason we're seeing this increase is, of course, because the price of crude is on the rise as well. According to Lundberg, the price at the pump has jumped up by 41 cents over the past two months.
That's certainly not as bad as it could be, nor as bad as it has been. Still, the good news about gas prices being low here has to be tempered with the effect those low prices have on the oil and gas job market. Locally, we could see some layoffs by June of this year.