Report: Gas prices average $3.20 a gallon in Missouri

Crude oil futures for May as of April 9 were a record $110.87 per barrel after setting an intraday record of $112.21 per barrel in response to an unexpected decline in U.S. crude supplies.

The price is up 72 percent from a year ago, the second-biggest gain among 19 commodities, trailing only wheat, which doubled in price. Rising global demand for raw materials and a weakening dollar are to blame, according to the report.

As of April 7, Missouri’s average retail price for gas climbed 22.8 cents to $3.20 per gallon. Average price for diesel fuel increased 32.4 cents to $3.87 per gallon, a new record average price, the report said.

The U.S. gas price average also set a record at $3.33 per gallon, up 4.2 cents from a month ago and up 62.5 cents from a year ago.

The average price of Missouri’s E-85 gas was $2.59 per gallon, compared to $2.45 a month ago and $2.11 in April 2007.