Cost of gas taking bigger chunk of household budgets - MSNewsNow.com - Jackson, MS

Cost of gas taking bigger chunk of household budgets

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JACKSON, MS (WLBT) – On average, Mississippians are paying a higher percentage of their incomes for gasoline than anyone else in the country. While crude oil prices are starting to level off, gas and diesel prices continue to go up in the metro area. 

The average income in Mississippi is $37,000 per household. Mississippians are paying an average of $402 a month for gasoline, or 13.2 percent. 

In California, the average household income is $59,000 and they pay $380 a month for gas, or just 7.8 percent. 

Assistant professor of finance at Mississippi College, Nancy Anderson says, "Outrageous, because we have two things working against us, first we have some of the lowest median household incomes in the country, and traveling great distances to go to work, so we are spending so much more of our income on transportation, which means it limits our economic growth in other areas." 

People are not happy about the increasing cost of gas. 

"I used to take $15 to fill my car up. Now it takes about $50," said Donald Bilbro of Jackson. 

Blair Clinton of Birmingham added, "Mississippi and Alabama are probably poorer states, and it's gonna affect the people a whole lot more because, you know, their dollar can't go as far." 

There are a few people who are very happy to see the cost of gas going up, like Jackson resident Dale Currie. "I have some royalties and every month I get a check from an oil company and when the price of oil goes up, my check goes up. So, everybody ought to have a little oil."

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