LAFAYETTE, La. (KLFY) -- Prices at the pump are going down, according to the president of the Louisiana Oil and Gas Association.

Mike Moncla, President of the Louisiana Oil and Gas Association spoke with News 10 about the recent drop in gas prices.

“Right now. You know, the gas prices, it's kind of like oil. It's supply and demand-driven, and right now, there's more supply on the market than they're expecting. So, with the high supply, the price will come down," said Moncla. “The actual price of gasoline today is 2.21, but there are other variables that are added to that. So you're probably paying more than that at the pump.” 

Moncla explained why some stations may have higher prices than others.

“Anything over and above that is marked up for the travel of the product to stations," said Moncla. "Some stations that may be further away, might have a little bit higher price in that. Plus, there's a price that's added to that for sales tax, are different taxes for parishes or states and also there's a profit that the station makes on top of that.” 

Moncla said four or five years ago, he has seen the gas prices lower than what it is now. 

“It just kind of shot up a couple of years ago due to supply and demand. COVID didn't help things much, shutting a lot of things down,” he tells News 10. “It is totally a supply-driven deal. It's not inflationary. I mean, it may be a cause of some inflationary items, but, you know, when you see the price of a hamburger go up, very seldom do you see them go back down, right? Gasoline does go up and down. So right now, you're seeing it go down. By Christmas, you may see it go up a little bit.”

News 10 spoke with one consumer who said she had seen a drop at the pumps. 

"I've been seeing it go down lately at certain locations. You know, it takes about $25 to fill my car up. So that's not really too bad. But gas prices used to be very ridiculous,” said Diamond Senegal. 

For more information on gas prices, check LOGA. 

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