MO gas average increases by 13 cents

Missouri's average retail gasoline price rose by 13.3 cents per gallon during the week of Aug. 22-28 to $3.51 per gallon yesterday. The price was 10 cents lower than the national average.

State prices yesterday were 8.8 cents per gallon lower than a month ago but $1.10 per gallon higher than the same day last year, according to a GasBuddy.com news release.

As of 12:05 p.m., the least expensive gas in the state was $3.27 per gallon at three filling stations in Des Peres, Manchester and Cape Girardeau.

In Springfield, $3.41 was the least expensive price per gallon, available at Sam's Club, 3660 E. Sunshine St.

Missouri ranked No. 12 on GasBuddy.com's list of lowest gas price averages by state, behind adjacent states Tennessee, No. 5, and Arkansas, No. 9.

Nationally, gas prices increased 2.8 cents per gallon during the week of Aug. 22-28, averaging $3.61 per gallon yesterday. Prices were 9.1 cents per gallon lower than a month ago but 91.6 cents per gallon higher than a year ago.

According to Patrick DeHaan, GasBuddy.com senior petroleum analyst, gas prices during the week were likely affected by Hurricane Irene.

"Retail gasoline prices finished last week quite strong in some areas on concern surrounding Hurricane Irene," DeHaan said in the release. "The concern surrounding refinery production on the East Coast helped boost gasoline prices outside that area as well."

He added that although damage to refineries has likely been minimal, the facilities could take days to resume production, which could affect Labor Day weekend traveling.

The U.S. price per barrel for crude oil was $97.25 as of Aug. 19, compared to $72.28 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 October were trading at $87.12 a barrel on the New York Mercantile Exchange as of 9:07 a.m.[[In-content Ad]]