MO gas prices climb 14 cents

Missouri’s average retail gasoline price climbed 14 cents per gallon in the past week, settling at $3.18 a gallon on Jan. 9. The national average price only increased by 8 cents to $3.34 per gallon during the same time, according to a GasBuddy.com news release.

As of 11 a.m., the least expensive gas in Springfield was $3.01 per gallon for members of Sam’s Club, 745 W. El Camino Alto St., according to MissouriGasPrices.com, which collects and reports gas prices from consumers. Other Springfield prices ranged between $3.12 and $3.17 per gallon. A shell station in Belton this morning reported $2.96 per gallon, the lowest price in the state, according to the price-tracking site.

Prices statewide are 28 cents per gallon higher than the same day a year ago and 13 cents per gallon higher than a month ago. Nationally, gas price averages rose 5 cents the last month and 27 cents during the last year.

GasBuddy.com Senior Petroleum Analyst Patrick DeHaan chalks up the increases to emotions.

"Gas prices are rising across much of the nation as Iran has continued to threaten closing the Strait of Hormuz, a vital waterway for global oil shipments," DeHaan said in a new release. "Think back to the days following the start of the crisis in Libya - an event that also rattled energy markets - we're seeing similar emotions play out even though there hasn't yet been a disruption to supply."

West Texas Intermediate crude oil was trading at $102.78 per barrel as of 11 a.m. Light sweet crude oil futures for February were trading at $102.90 a barrel on the New York Mercantile Exchange, according to the CME Group.
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