Gas Prices On The Decline - WLOX.com - The News for South Mississippi

Gas Prices On The Decline

By Elise Roberts - bio | email

BILOXI, MS (WLOX) - For the first time in a long time, South Mississippians are paying less for gas. The national average for gas has dropped, and the average cost for regular unleaded gas in South Mississippi is about $3.80 per gallon.

When the price of gas peaked at over four dollars a gallon, South Mississippians started changing their lives. People began planning their errands, they stopped eating out as much, they even changed they way they shopped.

"Everything is more expensive. It's more expensive to get places. Everything in the stores are more expensive. Just makes it harder," said Scott Hurley.

However, now that there is a little relief at the pump, will people go back to their old ways?

"No, not really. They can drop to $2.50 and that's still high," said Brandon Landry.

Gas prices are 11 cents lower than two weeks ago. According to the Lundberg Survey, the national average price of gas is down to $3.99.

Brandon Landry bought his Jeep Wrangler in 2006. Back then it cost him about $50 to fill up. Now he spends about $75, and he says it only lasts him about a week.

Gasoline prices are falling for the same reason they went up: basic economics. Right now, the demand for gasoline is down. According to the Energy Information Administration, gasoline consumption fell 2.5 percent in the first six months of the year.

However,  the modest drop in gas prices isn't enough for this Biloxi resident. In fact, Landry has a new way of living.

"I guess I really don't go out as much, and I try not to drive as much because my vehicle just sucks up a lot of gas. So it's been affecting my wallet a good bit," Landry said.

While falling gas prices aren't doing much for people's bank accounts, economists believe they will boost consumer confidence. As for South Mississippians, many say there's nowhere else for gas prices to go but down.

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