SuperTalk Mississippi

Oil Prices Down but Still Higher than Last Year

JACKSON, Miss. – Gas prices are dropping in the state. The average today at $3.26, down five cents from last week.

“Based on some analysis by the US Department of Energy we expected that by the end of June, as we got into July we would look at prices very similar to where we were this time last year, which state wide was about $3.00 a gallon. That didn’t happen,” said AAA spokesman Don Redman.

He says there are several factors that play into the prices being 26 cents over the price of gas last year. He says there have been too many disruptions in the refining process, which includes escalating violence in the Middle East, which has made the market for oil “nervous.”

He says the prices should keep fluctuating this summer between $3.15 and $3.35 a gallon.

He also says prices could be driven up higher during hurricane season.

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