Missouri gas averages $3.82 as crude futures rise

According to the Missouri Department of Natural Resources’ latest Energy Bulletin, the gain came after the Energy Information Administration showed U.S. crude supplies fell during the week ending June 13 and a statement that President Bush does not expect an increase in crude production by the Organization of the Petroleum Exporting Countries.

Crude prices have doubled in the last year and set a record intra-day high June 16 of $139.89.

The International Energy Agency says it is seeking an immediate increase in oil output at the June 22 OPEC meeting in Saudi Arabia to calm markets, the report said. The country will produce 9.7 million barrels per day in July, up 200,000 barrels per day from June’s level.

Meanwhile, Missouri’s average retail price for gasoline was a record $3.82 per gallon as of June 16, up 20.2 cents from a month ago and up 98 cents from June 2007, according to the report.

Diesel prices averaged $4.60 per gallon in Missouri, a 24.6-cent increase for the month and a $1.88-cent increase for the year.

U.S. gas prices as of June 16 climbed 4.3 cents per gallon to a record $4.08, while U.S. diesel prices were unchanged at $4.69 per gallon.

In Missouri, E85 – gas containing 85 percent ethanol – was $3.22 per gallon, up from $3.02 a month earlier and $2.39 a year ago.