Gasoline might not cost what it used to, but it’s still cheaper in Mississippi than anywhere else.
Mississippi gas prices sit at an average of $2.95, 50 to 60 cents lower than the national rate, which sits at $3.58, according to GasBuddy, a fuel price tracking website.
Gas rates throughout the state are also roughly 10 cents cheaper than neighbors like Alabama, Tennessee, Arkansas and Louisiana, which sit between $3.03 and $3.07.
In the Golden Triangle, gas prices range from $2.81 to $2.91, 4 cents cheaper per gallon than the average state rate, with Columbus having the highest and Starkville the lowest.
Matt Bogue, vice president for Dutch Oil Company, told The Dispatch gas prices in Mississippi are often cheaper than the national average and neighboring states due to lower state taxes on fuel per gallon.
All states charge the 18.4-cent per gallon federal excise tax on fuel. Mississippi charges a state rate on top of that of 18.79 cents per gallon, according to the American Petroleum Institute. State excise tax rates in neighboring states range from 20.01 cents to 31.31 cents per gallon.
“All state and federal excise taxes are included in the ‘pump price’ a consumer pays,” Bogue said. “Federal taxes and fees are the same everywhere (18.4 cents per gallon on gas), but state taxes/fees can vary dramatically.”
Bogue also said trucking and shipping demand play a role in fuel costs.
Gas rates nationally are also about $1 lower than in summer 2022, and Mississippi rates follow the same trend, GasBuddy reports.
Patrick De Haan, head of petroleum analysis at GasBuddy, said the lower gas prices came as a strategy from companies trying to incentivize more people to travel, and he expects to see a slight dip in rates during the fall.
“Thus far this summer, demand for gasoline has been softer than last year, helping to ease the pressure on gas prices,” Haan said in a press release. “Coupled with an economic slowdown and rising interest rates, Americans are feeling a bit more sluggish about hitting the road again this summer, leading to the lower prices. We may continue to see average prices moderate, especially closer to Labor Day, barring hurricanes or other unexpected refinery outages, with steeper price drops coming after summer.”
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Quality, in-depth journalism is essential to a healthy community. The Dispatch brings you the most complete reporting and insightful commentary in the Golden Triangle, but we need your help to continue our efforts. In the past week, our reporters have posted 26 articles to cdispatch.com. Please consider subscribing to our website for only $2.30 per week to help support local journalism and our community.
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