Gas prices continue to drop in Lincoln County, state, nation

Published 10:00 am Monday, August 15, 2022

Average gasoline prices in the state have fallen 10.1 cents per gallon over the past week, averaging $3.49 per gallon Monday. The data comes from GasBuddy’s survey of 2,014 fueling stations across Mississippi.

In Lincoln County, the average gas price Monday was $3.385 per gallon. Only six counties had cheaper average gas prices in Mississippi. Reported prices in the area ranged from $3.30 to $3.41.

Prices are 56.9 cents per gallon less than one month ago, but still 71.7 cents per gallon higher than one year ago.

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The cheapest reported gas in Mississippi Sunday was $3.09 per gallon and the most expensive reported was $4.09.

The national average price has fallen 9.9 cents per gallon in the past week, averaging $3.92 Monday. That average is 63.7 cents less than one month ago, though 74.8 cents higher than one year ago, according to surveys of more than 11 million gas stations.

The lowest average gas price in Mississippi for Aug. 15 over the past decade was $1.80 per gallon in 2020. The highest was $3.45, in 2012.

“For the ninth week straight, gas prices have continued to fall, but the streak is at great risk of being broken this week with wholesale gasoline prices having bounced back up some 40 cents per gallon as oil prices have rebounded,” said GasBuddy head of petroleum analysis Patrick De Haan. “That means the decline in average prices could wrap up soon, with some price increases possible as early as this week, especially in areas of the Great Lakes. While the West Coast and some areas of the Rockies may see prices continue to drift lower, I do believe the national average could tick higher this week as the better-than-expected jobs report last week likely means less demand destruction than anticipated.”