Gas prices are climbing across the country, and Mississippi drivers are feeling the strain as costs continue to rise with no clear end in sight.
Billy Shanon, a self-employed Jackson resident, said the recent jump in prices has been difficult to manage.
“Where I pump my gas at, it was $2.19 a gallon. It had jumped up to $2.99 a gallon,” Shanon said. “I live on the west side of Jackson, off Capitol Street… it’s just awful.”
Tiara Jackson
Gas prices surge nationwide as Mississippi drivers brace for higher fuel costs
Don Redman, a spokesperson for AAA, said seasonal changes and global conflicts are driving the increase.
“We traditionally see prices climb during the spring when refineries transition from what they call wintergrade gasoline to summergrade gasoline,” Redman said. “On top of that, we have a war in Iran now. And that’s essentially what we’re paying right now — that war premium.”
Redman said even though U.S. crude oil inventories remain steady, pricing is controlled by global markets.
“It’s all sold in a futures market globally,” he said. “That’s what determines the value of crude oil.”
According to AAA, crude oil was trading at $67 a barrel a month ago and is now around $100. Gas prices generally follow those swings. The Mississippi State Oil and Gas Board said global turmoil is a significant factor behind the rising costs.
Executive Director Jess New said international conflict has ripple effects at home.
“Roughly a fifth — about 20 percent — of the world’s oil flows through the Strait of Hormuz, which is there in Iran,” New said. “If there’s a conflict over there and that 20 percent of supply is restricted, that’s going to make the price of oil globally go up, which increases the price at the pump.”
New said the United States produces about 70 percent of its crude oil domestically and imports the remaining 30 to 35 percent from countries including Canada, Mexico and Saudi Arabia. Mississippi produces roughly 12 million barrels of oil annually.
Redman also offered tips for drivers hoping to save fuel:
• Keep tires properly inflated.
• Turn off the air conditioner when possible and drive with the windows down.
• Carpool when available and use the vehicle with the best fuel economy.
AAA says Mississippi drivers should budget at least $3.50 per gallon, with the current state average at $3.40. The national average sits at about $3.80.
