The national average price for gas is about $3.64 a gallon. In Mississippi, the average price is about 30 cents less than that, according to AAA. But with the turmoil in Iraq, gas experts are predicting an increase in gas prices as early as this weekend.
"Right now, there is no shortage of supply. The world has plenty of oil, but people are concerned that perhaps six months or a year down the road, maybe, global supplies will be effected. And so people involved in oil futures are already betting on that," said Dr. Trevor Smith, a geography and history instructor at MGCCC.
That's why experts say you can expect to see gas prices raise next week.
The President of Fayard's Po-boys Grocery, Keith Fayard, said he's been keeping a close eye on the conflict in the Middle East and is concerned about the impact it will have on gas prices.
"I heard today that gas went up some. I don't know exactly how much, but every time we have a conflict anywhere in the world, especially in the Middle East, this is going to happen," said Fayard.
Drivers say they also worry about an increase in gas prices.
"Right now, it's not really impacting me too bad at the current price it is. You know, if it goes up from here on out, we don't know how much, then it probably would have an effect on me personally," said Michael Griffin.
Nikki Jackson said she's not worried about gas prices rising, thanks to her fuel efficient vehicle.
"This is kind of why I bought the car. Because it's good on gas and I wouldn't have to worry about gas prices and what not. It doesn't take much to fill up," said Jackson.
Even with the potential hike in gas prices, experts don't recommend you rush out to fill up your tank.
"I don't think there is any need to gas up your car for the long term. Certainly, we can expect gas to be more expensive next week than this week," said Dr. Smith.
Dr. Smith said gas prices could rise by as much as 20 to 30 cents a gallon next week. He said on a global scale, Iraq doesn't produce a lot of oil. But he said speculators are concerned that the issues in Iraq will disrupt the oil producing states in the Middle East. That's why, he said, prices are moving up.
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