Gas prices on the rise

By David Elliott - bio | email

HARRISON COUNTY, MS (WLOX) - According to the American Automobile Association, the price of gasoline has increased about 23 cents in the past month. The national average now sits at $2.28 per gallon.

While the price at pump is not quite that high on the Mississippi Gulfport Coast, it has increased. Most stations have raised prices by around 9 cents in the last week.

Experts say this signals the start of a seasonal spike.

"I'd say by July 4th, it'll be around $2.35 a gallon," oil industry analyst Grady Ford said.

Ford said the price is driven by the laws of supply and demand. And even though prices are marching upward, the continuing global economic downturn should prevent the price to get as high as last summer's $4.00 per gallon.

"You could see that again, I'd say, in late 2010, if the economy turns around," Ford said.

Here's one more thing to think about the next time you fill up. According to AAA, today's price is $1.48 cheaper than it was this time last year.

©2009 WLOX. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.