Will Gas Go Lower Than $2 a Gallon?

The past four weeks have seen price drops at the pump, and prices are expected to drop again this week.  Nationally the average price per gallon is $2.79, down 1.6 cents from last week according to GasBuddy.com.

In Mississippi, the lowest listed price was $2.10 per gallon at Sam’s Club in Gulfport, Dodge’s Store in Gautier, and Murphy USA in Waveland.  Locally, gas prices ranged from $2.24 at Murphy Express to $2.39 at the highest-priced gas station.

Gas prices in most states again saw slight declines, except in the Midwest. There, prices jumped due to the effects of flooding.  Midwest prices are up 30 cents from the week-ago level of $2.49.  The average price of the top-priced 10 percent of stations stood at $3.82 per gallon, down from $3.88 a week ago, while the bottom-priced 10 percent of stations averaged $2.30. Across the nation, the median U.S. gas price was $2.70 per gallon.

The cause for the drop is, in part, due to concerns over President Trump’s tariffs on China and the threat of new tariffs on Mexico. Average gasoline prices are likely to drop for a fifth straight week this week as last week’s additional plunge in oil prices continues to pressure retail gas prices lower. With no breakthrough seen in U.S./China trade tensions and new worries over Mexico trade relations, the national average is likely to continue lower for several more weeks.