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Higher gas prices ripple through economy: record highs loom at the pumps. (Fill ''er Up?).

Publication: Mississippi Business Journal
Publication Date: 17-MAR-03 		Format: Online - approximately 903 words
Delivery: Immediate Online Access
Full Article Title: Higher gas prices ripple through economy: record highs loom at the pumps. (Fill ''er Up?).(gasoline)

Article Excerpt
The U.S. Department of Energy is predicting that gas prices will soon reach new record highs of an average of $1.63 per gallon by April. The impact isn't just felt by consumers filling up their personal vehicles for commuting to work or taking the kids to soccer practice. It has much bigger consequences than most folks realize as the impact of higher gas prices ripples out into the economy.

For example, just about anything purchased requires transportation to get to the consumer. Transportation costs, obviously, are linked to the cost of fuel. Diesel prices traditionally have been about the same as the lowest cost of gasoline. But now diesel is more than high grades of gasoline. It is estimated that 80% to 85% of the freight transported in Mississippi is moved by trucks.

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