Gas prices jump ahead of holiday weekend - WLOX.com - The News for South Mississippi

Gas prices jump ahead of holiday weekend

According to AAA, gas prices have increased as drivers travel more for the holidays. (Photo source: WLOX) According to AAA, gas prices have increased as drivers travel more for the holidays. (Photo source: WLOX)
SOUTH MISSISSIPPI (WLOX) -

People around the Coast have noticed gas prices on the rise heading into the holiday weekend.

However, drivers like Biloxi resident Melissa Baumbach aren't exactly sure why they're paying more at the pump.

"The gas prices are up because the elections are over," Baumbach questioned. "These gas prices are ridiculous." 

According to AAA, New Year's Eve is part of the price hike due to the increased demand for gas as people travel. OPEC and other countries made an agreement to limit crude oil production by 1.8 million barrels per day beginning in January, an effort to curb oil production and re-balance the oil supply.

As a result, markets have reacted with price hikes. 

"I noticed the gas prices going up when a customer came in and said her husband looked at the pump and noticed the pump was $2.16, but the sign said $2.06," said Treasure Irvin, Circle K employee. "So, I had to go change it." 

Retail gas price averages have increased 28 of the past 30 days, and the national average for regular unleaded gas is currently $2.29 a gallon; up 5 cents from one week ago, and up 16 cents from a month ago.

AAA also says average gas prices are expected to drop after the holiday, like in year's past, as the demand for gas decreases.

Copyright 2016 WLOX. All rights reserved.

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