Gas prices across the South are among the cheapest in the country and Mississippi is seeing some of the cheapest gas averages in the region. The current statewide gas average is $2.35 a gallon with some areas of the state seeing prices as low as $2.08 a gallon. Many expect prices to dip below $2.00 this summer.
“Gas prices have been trending lower now for the past month and there are no signs of pump prices changing gears toward more expensive for the summer season,” said Jeanette Casselano, AAA spokesperson. “One major indicator supporting this forecast is the price of crude oil which last week dropped by $6 to $53/bbl, which is one of the lowest prices of the year.”
Mississippi is also in the top 10 of least expensive markets and the top 10 of the largest monthly decreases.
- The nation’s top 10 least expensive markets are: Mississippi ($2.35), Louisiana ($2.36), Alabama ($2.38), South Carolina ($2.39), Arkansas ($2.42), Texas ($2.43), Tennessee ($2.46), Oklahoma ($2.47), Virginia ($2.53) and Missouri ($2.54).
- The nation’s top 10 largest monthly decreases are: Florida (-23 cents), Delaware (-16 cents), Georgia (-15 cents), California (-14 cents), North Carolina (-14 cents), Louisiana (-13 cents), Mississippi (-13 cents), Texas (-13 cents), Tennessee (-12 cents) and South Carolina (-11 cents).
The southern region is continuing to see declines at the pump thanks to a steady build of gasoline stocks, which increased by 1.2 million bbl according to the latest EIA data. With refinery utilization at 95% and stocks totaling 84.7 million bbl — a nearly 6 million bbl year-over-year surplus — motorists in the South and Southeast can expect gas prices to push lower in the coming weeks.