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Gas Expert: “Average Prices Could be Below $3/Gallon in Miss. by 2014”

JACKSON, Miss.–Gas prices in Mississippi have been about twenty-cents lower for the last month than they were in the summer.

As of Thursday the average price in the state was $3.11 per gallon and many places had prices under $3.00.

“It looks like that downward trend of prices will continue,” said oil analyst Don Redman with AAA.

Redman says that the market is starting to correct itself along with a high supply and low demand because of the slowing economy.

“We’ve had a lessening of tensions in the Middle East along with Africa,” he said. “And we’ve had a quiet hurricane season overall.”

Of course the big question is how low will it go?

“It’s very possible this year at the end of the year that we could end up under $3 per gallon in Mississippi,” said Redman.

That would put some of the cheapest stations in the state around the $2.70 mark and that would be a sight for many sore eyes, and wallets.

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