By Staff
Aug. 24, 2003
Soaring wholesale prices mean that Mississippi motorists should brace for gasoline prices to jump as much as 10 cents a gallon in the next few days. The Associated Press reported that the average price of a gallon of regular unleaded gasoline in Mississippi jumped 8 cents last week, and tight supplies and sharply higher demand are expected to bring more price increases at least through Labor Day.
Blame last week's blackout in the Northeast, which temporarily shuttered seven refineries, mechanical problems at West Coast refineries and a ruptured pipeline in Arizona that exacerbated already tight foreign output.
The average price at the pump in Mississippi on Friday was $1.55, almost 23 cents higher than a year ago, and up 8 cents from last week. Nationwide, the average price for regular unleaded was $1.65 on Friday, up 12 cents from the month before and almost 25 cents higher than last summer.
At least Mississippi has not yet seen what has happened in Arizona, where gas shortages led to long lines at the pump and prices at some stations of almost $4 a gallon. We hope investigators are looking into that to make sure no gouging is going on.
The traditional Labor Day holiday is not looking too good right now for the travel and tourism industry.