Gas Prices Inch Higher

Average retail gasoline prices in Mississippi have risen three cents per gallon in the past week, according to GasBuddy.com. It averages $2.68 per gallon as of Monday.

The average price in Alabama is $2.70 per gallon for regular unleaded.

The Web site put the national average up 3.6 cents per gallon in the same time period, averaging $2.78 per gallon.

Since last year, the price has increased almost 91 cents a gallon, and is 21.8 cents per gallon higher than a month ago.

"We're starting off March like a lion with little hope of it going out like a lamb", said Patrick DeHaan, GasBuddy.com senior petroleum analyst. "While conventional wisdom tells us demand will increase as we move towards warmer weather, it appears that gasoline price increases have easily outpaced any potential increases in demand thus far."

DeHaan said he expects most of the country to flirt with prices near or over $3.00 per gallon by Memorial Day, with the exception of California, where prices will average near $3.35 a gallon.

DeHaan said the bright spot is that plenty of spare refining capacity and lower gasoline demand than in previous years will keep gasoline prices from reaching record highs.


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