JACKSON, Miss. (WJTV) – Mississippi drivers have started to dread prices at the pumps because gas prices have once again skyrocketed across the country.
“A lot of that has to do with the concern that Russia could invade Ukraine, which would start off a domino effect that Russia could slow down oil exports to inflict harm on the global economy,” explained Patrick De Haan, head of Petroleum Analysis for Gas Buddy.
Last week, oil prices reached $95 a barrel, which is the highest price since 2014. De Haan said in Mississippi, gas prices are still below the national average. However, drivers are still feeling an impact.
“The average household is going to spend $2,600 on fuel. That’s up $800 from where households were spending last year, so that’s a pretty sizable increase. For many Americans now, a tank of gas is well over $50 and it’s not going to get much better,” said De Haan.
He said as summer approaches, prices at the pumps will stay high. He said one way to cut down on cost is to shop around for the best price.
“People look at gas prices, and they think, ‘Oh, it’s only a few cents.’ But even in Jackson today, gas prices at some stations are as low as $2.24 and others are as high as $3.29, so that’s over 35 cents a gallon that motorists could save if they’re finding the stations with the lower prices.”
De Haan said COVID-19 also plays into the rising cost. He said the economy has reopened significantly, and more oil is being manufactured.
To ensure fewer trips to the pump, De Haan said to drive smart and invest in gas station loyalty cards to save a few cents off your next visit.