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Gas prices expected to keep climbing
by carlie.kollath
 Biz Buzz
2 years ago | 235 views | 0 0 comments | 6 6 recommendations | email to a friend | print | permalink

As of today, the AAA Daily Fuel Gauge says the average price for a gallon of gas in MS is $2.67. A year ago, it was $1.82. The national average today is $2.76.

And in an usual turn of events, MS is no longer ranked in the tier of states with the lowest prices. We're now in the tier with the second lowest prices.

Here's more from media organization Poynter:

It is not your imagination; fuel prices are rising quickly.

USA Today quoted oil and gas analysts who say gasoline prices will likely crack $3 this spring. The story said the prices aren't likely to increase beyond that, however, in part because of unemployment:

"'People just aren't driving to work like they were,' says Jim Ritterbusch, president of oil trading adviser firm Ritterbusch and Associates.

"The number of vehicle miles traveled in the U.S. last year was about flat with 2008 but down 3% from the peak year of 2007, data from the Federal Highway Administration say.

"Ritterbusch doesn't expect much increased demand for gasoline until the unemployment rate falls below 8.7%. In the meantime, he expects gasoline to peak at $3 a gallon to $3.25 a gallon between now and the Fourth of July.

"Then, he says, he expects weak demand to drive prices lower for the rest of the summer."

 

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