Gas Price Projections

By  | 

Meridian wholesalers say they don't know exactly what tomorrow will bring in the way of gasoline price hikes until the close of business, but another price increase is likely.

The average price of regular unleaded gasoline ranges from $1.72 to $1.79 cents per gallon. That is about 25 cents more per gallon than local motorists were paying at this time last year.

The American Automobile Association reported Monday that Mississippi is tied with Tennessee for the second highest cost of unleaded gas in the region.

The statewide average is $1.73 a gallon, but that is still below the national average of $1.81 a gallon.

Last year, statewide, the average was $1.48 and the national average was $1.57.

Triple A spokesman Don Redman said the higher cost is a matter of Economics 101. He said there is more demand than supply.

Redman said another factor is different states' tax structures and accessibility to gasoline.

Mississippians pay 38.6 cents in combined federal and state taxes on each gallon of gasoline they buy.

The Associated Press contributed to this report.