Greenwood gas prices have jumped substantially in the last couple of weeks, sometimes by a nickel a gallon.
Prices at the pump are already about 25 cents more a gallon than they were at the first of the year. This morning, most filling stations in Greenwood were selling regular unleaded at $1.65.
Solon Scott Jr. is among the gas distributors who say that trend is all part of the growing crisis in Iraq.
"It's back down to the fear of war," said Scott, who owns Scott Petroleum, which has headquarters in Itta Bena.
Scott said the ballooning cost is tied also to a strike by oil workers in Venezuela. The strike, which started in early December, has drained $4 billion from that country's economy and cut its normal oil production in half. And the U.S. market, which imports from Venezuela, is taking some of the hit.
If prices at home keep soaring, local motorists won't be the only ones having to make adjustments. The city of Greenwood has gasoline reserves, but it might be forced to alter its budget, a solution it has turned to before.
"Last year, we had to increase our budget on natural gas," said Mayor Harry Smith.
Otherwise, city vehicles will continue to operate as normal, he said. "I don't see how we can cut back much on the use of patrol cars and fire trucks and public works vehicles."
Smith said he will definitely curtail some of his personal driving and expects others to do the same.
"When I see people around here start carpooling, then I'll know it's really gotten tough."
Scott doesn't expect times to get too tough, though. The commodity price of oil, which hit a recent high at $35 a barrel, decreased Monday.
"Crude's off today, so we're liable to either see this thing hold steady or trim down," Scott said. "I can't guess which."
