As of Tuesday morning the cheapest gas in the WTOK twin state viewing area is in Meridian. The prices in the Queen City range anywhere from $2.39 to $2.35 for a gallon of regular unleaded gasoline.
While a drop in the price at the pump is welcomed, don't get your hopes too high because officials with the Petroleum Research Foundation say the age for cheap gas for the U.S. is gone, at least for now.
With unrest in key oil producing countries such as Iraq and Nigeria and the recent hurricanes, they say the supply of spare crude oil is now very limited, something that could lead to price hikes from time to time. However, for now we're experiencing a downward trend with prices.
As for how low prices will go, recently officials with the oil industry were predicting prices to go back to their "pre-Katrina" rate of about $2.29 a gallon for regular unleaded gasoline. As for how long it will take to get there, they say it's still too early to say.
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