NGV-1.99

CNG Still Cheaper Even As Gas Prices Drop

While gasoline prices have dropped to their lowest price in nearly four years, the cost for compressed natural gas (CNG) has remained stable and is still way below gasoline.

The average price of U.S. retail gasoline dropped 20 cents in the past two weeks to the lowest level in nearly four years, driven by a steep drop in oil prices. The average price for gallon for regular grade gasoline nationally is $3.02. In Mississippi the average price is $2.79 per gallon. That’s the lowest price since Dec. 2010.

However, the price for CNG at NGV Solutions on Lakeland Drive is $1.99/gge. It has been the same price for the last three years.

“Our customers can expect stability as a result of an abundant domestic supply of natural gas,” said Kent Meadows, vice president of NGV Solutions. “We’re less impacted by global pressures.”

The fall in the price of gasoline mirrors a drop in crude oil prices that have been pressured by ample global supplies and weak demand over the past four months. Crude oil prices are expected to rebound in the coming weeks.

The gasoline price is down from a 2014 peak of $3.72 high in May and is 29 cents lower than the same period a year ago. The highest price in the country was recorded in San Francisco at $3.45 per gallon, with the lowest price in Memphis at $2.73.

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