Mississippi shatters gas price record as cost surges in Coast counties overnight
Mississippi’s fuel prices hit a new all-time high Thursday as the average price for a gallon of gas surged to $3.99, according to the AAA average gas price index.
Thursday’s price eclipsed the state’s previous highest average, $3.98 in July 2008.
Experts warned higher prices were in the near future, suggesting the spike would continue through midweek and slow down near the end of the week, said Patrick De Haan, head of petroleum analysis for GasBuddy.
“The increases at the pump could wind down in the next few days unless oil markets reverse,” De Haan added.
Several South Mississippi counties are selling fuel above the statewide average.
On the Gulf Coast, Stone County saw the largest increase, rising from $3.86 to $4.01 overnight. Pearl River rose 14 cents overnight, to an average of $4.13 per gallon.
Here’s a cost breakdown for the South Mississippi area as of 12 p.m. Thursday:
Pearl River County: $4.13
Hancock County: $4.03
Stone County: $4.01
Harrison County: $3.99
George County: $3.96
Jackson County: $3.96
Experts do not expect lower prices any time soon. The pandemic lowered the demand for fuel and refineries have been hesitant to go back to pre-pandemic production. Summer tourism and ongoing tension with Russia over the invasion of Ukraine could mean higher prices through Labor Day.
Mississippi has long had the lowest gas prices in the U.S., but that’s changed in the recent spike.
De Haan told the Sun Herald he expects prices in the Magnolia State to level off and soon return to having the cheapest fuel in the nation, but he could not say when that would happen.
This story was originally published March 10, 2022 at 12:10 PM.
