Mo. gas average drops faster than US

Missouri’s gas average dropped during the past week at a quicker pace than the national rate.

The Show-Me State’s average decreased by 7.4 cents during the past week to $2.12 per gallon yesterday. Meanwhile, the U.S. average fell 4.5 cents to $2.34 per gallon, according to a GasBuddy.com news release.

As of yesterday, prices in Missouri were 5.5 cents higher than a month ago but 48.7 cents lower than a year ago. National prices increased 6.1 cents during the past month but decreased 46 cents in the past year.

“The price of crude oil, which had been gaining steam leading up to June, has now experienced a sustained downturn over the last couple of weeks,” said Will Speer, GasBuddy senior petroleum analyst, in the release. “As crude oil prices have cooled off, the impact is finally being felt in the retail gasoline sector.”

Missouri’s gas average ticked down another cent this morning to $2.11 per gallon, putting the state sixth on GasBuddy’s list of the lowest averages in the nation. With a $2.02 per gallon average, South Carolina topped the list, and California was last with a $2.86 per gallon average.

A filling station in Clinton had the lowest Missouri gas prices this morning, at $1.81 per gallon. At $2.59 per gallon, stations in Cape Girardeau, Venice, Alorton and Wood River and St. Louis had the highest-priced gas in the state, according to MissouriGasPrices.com.

Springfieldians could purchase gas for as low as $1.92 per gallon at both Sam’s Club stores. Prices elsewhere in the city ranged from $1.98 per gallon to $2.05 per gallon.

West Texas intermediate crude oil was trading at $48.89 per barrel as of 9:33 a.m., compared to a 52-week range of $31.61 to $63.61. Light sweet crude futures for August were trading at $49.48 per barrel on the New York Mercantile Exchange.