Missouri retail gasoline prices on the decline

Average retail gasoline prices in Missouri have fallen 3 cents per gallon in the last week, according to information Monday from MissouriGasPrices.com.

Missouri prices average $2.75 per gallon, nearly 20 cents lower than the $2.93 per gallon national average. Statewide prices are 66.8 cents per gallon higher than the same day a year ago and nearly 4 cents higher than a month ago. National prices have increased 72 cents in the last year and nearly 7 cents in the last month.

Springfield prices, as of Tuesday morning, ranged from $2.61 to $2.63 per gallon, according to the site.

"Last week we saw a correction in oil and wholesale gasoline prices," said Patrick DeHaan, senior petroleum analyst for GasBuddy.com, which runs MissouriGasPrices.com, in a news release. "With wholesale gasoline prices down as much as 30 cents per gallon since last Monday, I expect retail gasoline prices to fall as gasoline stations continue to sell through their more expensive inventory and buy cheaper supply, passing on lower prices to motorists."

DeHaan also said that prices should continue to fall due to growing supply, meaning prices should be on the decline for Memorial Day motorists.

MissouriGasPrices.com lists gas prices at various stations as reported by drivers.