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MO gas average drops 9 cents to $3.49 per gallon

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Missouri's average price of retail gasoline fell 8.9 cents per gallon during the week of Aug. 1-7, averaging $3.49 per gallon yesterday. Comparatively, the national average dropped 3.7 cents per gallon during the week to an average of $3.66 per gallon.

State prices yesterday were 3 cents per gallon lower than a month ago and 85 cents per gallon higher than a year ago. The national average has increased 4.6 cents per gallon during the last month and risen 88.6 cents per gallon in the past year, according to a GasBuddy.com news release.

As of 9:04 a.m., the lowest price of gas in Missouri could be be found at a filling station in St. Charles for $3.16 per gallon. The most expensive gas was $3.69 per gallon at a station in St. Louis.

Springfieldians could find the city's cheapest gas for $3.30 per gallon at Kum & Go, 3030 S. Jefferson Ave.

Missouri today recorded the third spot on GasBuddy.com's list of lowest gas price averages by state, ranking behind Arizona, No. 1, and South Carolina.

The U.S. price per barrel for crude oil was $107.96 as of July 29, compared to $73.15 per barrel a year before, according to the most recent data available from the U.S. Energy Information Administration.

According to the CME Group, light sweet crude oil futures for September were trading at $84.21 a barrel on the New York Mercantile Exchange as of 9:09 a.m.

When Springfield Business Journal last reported oil prices July 18, the U.S. price per barrel for crude oil was $101.90 and light sweet crude oil futures for August were trading at $95.35 a barrel.

"We're watching an incredible decline in the price of crude oil and gasoline futures that will most certainly have an impact in the upcoming week at the pump," Patrick DeHaan, GasBuddy.com senior petroleum analyst, said in the release. "While motorists won't see large drops all at once, I most certainly expect declines in the days ahead."[[In-content Ad]]

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