MO gas average 11 cents higher on New Year's Day

The Missouri gas average opened in 2012 at $3.03 per gallon, 10.9 cents higher than on Jan. 1, 2011. The U.S. average, which was $3.25 per gallon on New Year's Day, rose 20.9 cents compared to the same day last year, according to a news release.

"Average gasoline prices are moving up as we enter the New Year, a trend that has held since 2008," GasBuddy.com Senior Petroleum Analyst Patrick DeHaan said in the release. "The biggest problem with that trend holding true this year is that we're starting 2012 about 20 cents per gallon higher than 2011, breaking yet another high price record and setting up an ugly year for motorists."

As of 10:12 a.m., the Sam's Club at 745 W. El Camino Alto Drive in Springfield had the least expensive gas in the state, $2.86 per gallon, according to MissouriGasPrices.com.

The price point was below the state average, which was $3.06 per gallon this morning, placing Missouri at No. 7 on GasBuddy.com's list of lowest gas averages by state.

West Texas Intermediate crude oil was trading at $102.70 per barrel as of 10:07 a.m., roughly $2.80 higher than a week ago. Light sweet crude oil futures for February were trading at $102.41 a barrel on the New York Mercantile Exchange, according to the CME Group.
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