Missouri gas prices down in June, higher than 2006

That price is down 2 percent from a month ago, it’s up 15 cents from the same time in 2006. The state average is identical to the national average price, which also sits at $2.98 per gallon.

Overall, fuel prices have remained high due to tight supplies in the Midwest, partly due to the flooding at the refinery in Coffeyville, Kan., which normally supplies 108,000 barrels of oil per day, and equipment failure at the refinery in Whiting, Ind., which refines more than 400,000 barrels daily.

National oil future prices, meanwhile, are down. The New York Mercantile Exchange shows prices at $72.56 as of July 11, down 25 cents for the week. The decline is attributed mostly to the Department of Energy’s weekly energy report, which showed increased gasoline supplies for the week ending July 6.

DOE also predicts continued high prices for the last two quarters of 2007, due to concerns over adequate global crude oil supplies.