Fuel Prices Going Up, Wine Going Down

THE DELTA (Ben Caxton) — After weeks of falling gas prices, you could soon be paying more at the pump. The cost of a gallon of regular unleaded in the U.S. rose 0.7 cents last week to an average of $2.43. Oil prices rebounded on word that OPEC members were considering cutting global production to offset a decline in demand brought on by the coronavirus. As of yesterday, the average price in Mississippi was $2.09, the second-lowest in the country. Gas in Texas was 2 cents cheaper. Meanwhile, the price of wine is expected to drop to its lowest levels in five years thanks to a surplus of California grapes. Experts say the cheaper prices may even last up to three years. Northern California vineyards began planting thousands of acres of new vines in 2016, and with more efficient harvesting methods it has led to more bountiful harvests of grapes. It takes up to five years to bring wine to market after planting, and California growers apparently overshot demand as wine consumption has dropped for the first time in 25 years as more Americans turns to liquor and ready-to-drink cocktails.

 


RECOMMENDED FOR YOU

Be the first to comment on "Fuel Prices Going Up, Wine Going Down"

Leave a comment

Your email address will not be published.


*