LAFAYETTE, La. (KLFY) – Great Britain leaving the European Union has already affected gas prices in the United States, and with oil and gas being one of the leading economic resources in South Louisiana many are wondering how it will affect us here at home. Thursday Great Britain announced it’s decision to leave the European Union. This is the first time in history this has ever happened, leaving the world unsure of what’s ahead. Gas prices across the nation dropped after the announcement and many are wondering what that means for Louisiana.

“It did cause the price of oil to drop because the pound devalued and the dollar went up. When the dollar goes up the price of oil always goes down,” said Briggs.

Louisiana Oil and Gas President Don Briggs said he feel Brexit will not affect oil and gas in Acadiana.

“If the prices go down I don’t believe and analyists don’t believe it’s going to be driven by the brexit issue. It can have an impact on global markets, but no one that I’ve talked to sees this as something we need to be concerned about in the near term.”

But like many other economic leaders, Briggs said only time will tell.

“Hopefully, this won’t have a huge impact, but it’s really difficult for anyone to say as all the details get worked out and that’s going to take time.”