Gradual Decline in Gas Prices

Consumers have seen gas prices drop gradually over the last several weeks.

In the past week, prices have dropped about 8 cents per gallon in Mississippi.

The average in the state is $3.46 per gallon. It's
$3.47 per gallon on average in Alabama. The national average is $3.73 a gallon.

Remember when gas prices were forecast to climb above $4 and even $5? Well, fortunately gas prices have started going in the other direction, reaching prices as low as $3.40 while we were driving around Monday morning.

Most of us probably are like Katie Ballew, busy driving around from point A to points B, C, and D.

"We have ball games, ball practices," said Katie Ballew. "We're doing here and there, so yeah, it's a lot of back and forth and running around that we're doing."

All that driving quickly empties our tanks, which means more money we have to pay for gas. With gas prices coming down, all that driving doesn't seem so taxing, and it means more money in our wallets for other things.

"Absolutely, it's more groceries in the house, you know, more activities we can do as a family, so yeah," Ballew said.

"I do plan a trip to Tennessee, so that's going to help a lot," said Reba Lovett, who is looking forward to having more money for other things.

"Just better living, you know," said Eric Sauvageau. "Other things that I wanted to do for quite a while. It's always good to have more money."

As for why the sudden drop in prices, it could be the simple concept of supply and demand.

"Oh, because we can't handle it," said Sauvageau. "When we can't handle it anymore, we stop buying it, then suddenly, oops, it goes the other way."

Gas prices have been on a downward trend for over a month now. They peaked in Mississippi at about $3.79 per gallon, on average, in mid-April, and have been dropping since. They've dropped 16 cents in the last two weeks, according to gasbuddy.com.


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