Gas Prices Subject To Change From Fiscal Cliff

JACKSON, Miss. -- No matter what the outcome of the fiscal cliff, gas prices will still be affected. Mike Write, Vice President for Public Affairs for AAA said it all depends on how the possible tax increase could affect economic growth.

“If we should go over the cliff, that would suggest that economic activity in the United States is going to slow down. Therefore, the demand for energy will slow down, and consequently we should see a reduction in the price of crude oil,” said Write.

“If we don’t go over and we do see an up tick in economic activity in the United States, or around the world, that will increase demand for petroleum products.”

Today the average price for a gallon of gas in Mississippi s $3.11 according to gasbuddy.com.

Gas Prices Subject to Change from Fiscal Cliff