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Last Friday, regular gas was going for about $2.37 around Tupelo. On Tuesday, prices jumped to $2.47. This morning, it was $2.57 at Dodge’s on West Main. Kroger at Crosstown was at $2.47, but that will be changing soon enough.
So why the runup in prices you ask? Part of it has to do with the price of oil, which has jumped to more than $80 a barrel.
The weakening dollar has an impact on higher oil prices, too. Crude supplies are still plentiful however, but gas inventory has dropped because refiners are cutting back production.
Clilck here for more on gas prices and other business news at the Biz Buzz blog.
Maybe you meant $10 less per barrel than the current price of $80/barrel?