Gas Prices Could Go Down, Depending on Oil Prices

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KOSCIUSKO, Miss.–Gas prices could go down, after weeks of going up, said Gasbuddy, in a report Monday. It depends upon whether oil prices shoot up again. Right now oil prices are stable at about $83 per barrel and Mississippi’s gas average is at $3.05 per gallon.

“Gas prices continued to soar in a majority of the nation over the last week as oil’s meteoric rise pulls gasoline and other refined product prices higher. But, there may be some light at the end of the tunnel,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

“The sharp rise we’ve seen over the last three weeks should begin slowing down soon, barring another jump in the price of oil. This is because gasoline prices have now largely caught up to the jump in oil that started nearly a month ago. This isn’t an all clear for the future, however, as oil prices could rise again at any time.”

The state average is about 30 cents below the national average of $3.36 per gallon.

Several stations in Philadelphia had gas for under $3 per gallon, but that’s not the norm in central Mississippi.

Gas was at $3.09 per gallon at two out of the three stations reporting from Kosciusko Monday morning. It was right around the average in Carthage.

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