JACKSON, Miss.–Mississippians have a nice Christmas present this year, gas prices below two bucks in several places and some of the lowest prices in five and a half years. In fact, gas prices have dropped about 25 cents more in the past two weeks, nationally.
Mississippi’s average price for a gallon of regular Monday morning was $2.19. Places that had it for under $2 included Meridian, Fulton, Sherman, McComb, Summit, Monticello, Clinton and Jackson, according to gasbuddy.com.
“Some time now, non-OPEC production has been surging,” said oil expert Trilby Lundberg, who runs the Lundberg Survey, which tracks gas and oil prices, “while world oil demand growth has been weaker, and that has combined to create this price crash. In this last two weeks, lower Ethanol prices also added a little impetus.”
So, how much lower could it go? Lundberg is characteristically cautious, saying it likely will only drop a few more pennies.
While Mississippi doesn’t have the lowest state average in the country, it is close. Oklahoma had the lowest average at $2.04. The national average was at $2.37.