After issuing multiple pauses on tariffs against Canadian and Mexican imports since taking office, President Trump on Wednesday announced a sweeping 10% baseline tariff on all imports to the U.S., with many countries facing even steeper duties. However, the White House said oil and gas imports are exempted from new tariffs.
Jolted by the impact of the tariff announcement, the stock market plummeted on Thursday, with U.S. oil prices dropping 7%. The double-whammy of lower prices and higher costs for crucial materials like steel pipes may have a major impact on domestic oil and gas production. Meanwhile, the Organization of the Petroleum Exporting Countries announced Thursday that it would increase production to help stabilize the market.
Expecting market volatility, GasBuddy analyst Patrick De Haan projects the upcoming switch to summer-blend fuel at gas stations will likely translate to higher prices at the pump.
“As we head into April, Americans should expect gas prices to rise, with a peak that could occur in mid-to-late April,” De Haan said in a statement this week. “While average prices remain well below last year’s levels, we’ll likely begin to catch up, with prices expected to increase in most—if not all—states over the next few weeks.”
Stacker compiled statistics on gas prices in Mississippi. Gas prices are as of April 3.
Mississippi by the numbers
– Gas current price: $2.74
– Week change: +$0.06 (+2.2%)
– Year change: -$0.34 (-11.0%)
– Historical expensive gas price: $4.53 (6/12/22)
– Diesel current price: $3.25
– Week change: +$0.01 (+0.3%)
– Year change: -$0.44 (-11.8%)
– Historical expensive diesel price: $5.38 (6/19/22)
Metros with most expensive gas in Mississippi
#1. Biloxi-Gulfport-Pascagoula: $2.78
#2. Hattiesburg: $2.75
#3. Jackson: $2.75
#4. South Haven – Olive Branch: $2.73
States with the most expensive gas
#1. California: $4.92
#2. Hawaii: $4.52
#3. Washington: $4.30
States with the least expensive gas
#1. Mississippi: $2.74
#2. Tennessee: $2.81
#3. Oklahoma: $2.81
This story features writing by Tim Bruns and is part of a series utilizing data automation across 50 states.
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