Gas prices have inched past the $2 mark at some stations along the Mississippi Coast, with gas selling at $2.03 a gallon Monday on the beach.
Gas can still be found for $1.99 a gallon off the beach, but GasBuddy.com reported Monday morning that gas has risen an average of 3 cents a gallon in Mississippi over the past week, to $2.01. Nationally, the average increase is 2.9 cents a gallon, bringing the price to $2.21 a gallon.
“Including the change in gas prices in Mississippi during the past week,” a news release from GasBuddy says, “ prices yesterday were 21.7 cents per gallon higher than the same day one year ago and are 3.1 cents per gallon higher than a month ago. The national average has increased 4.7 cents per gallon during the last month and stands 20.0 cents per gallon higher than this day one year ago.”
In Monday trading, Bloomberg news reports, crude oil prices per barrel rose to $57.89. The latest increase comes after non-OPEC oil-producing nations, including Russia, agreed over the weekend to cut output by 558,000 barrels a day.
OPEC already had announced a production cut, beginning in January, of 1.2 million barrels a day. Bloomberg said the cuts by OPEC and non-OPEC countries represent the first agreement they have reached since 2001.
“It underscores the resolve to end a market-share war that exacerbated a global oversupply and caused prices to slump by 75 percent,” Bloomberg reported. “The OPEC and non-OPEC plan encompasses countries that pump 60 percent of the world’s oil but excludes producers such as the U.S. and Canada, which have benefited from the boom in shale output, as well as China, Norway and Brazil.”
How gas prices stack up
Historical data from GasBuddy.com shows average gas prices per gallon on December 12 in Mississippi: