Report: Missouri gas prices average $1.58

The latest energy report from the Missouri Department of Natural Resources shows the statewide average price of gas is down 47 cents from a month ago and continues to slide.

On Dec. 1, the average retail price for gas was $1.58 per gallon in Missouri. That's down 23 percent from a month earlier and down $2.31 from the record $3.89 set on July 7, according to the report.

The average price for diesel fuel in Missouri fell 41 cents to $2.50 per gallon, compared to a month ago.

Compared to December 2007, gas is $1.26 per gallon lower and diesel fuel is 82 cents per gallon lower.

The U.S. average retail price for gas was $1.81 as of Dec. 1.

U.S. crude oil for January delivery settled at $46.79 on Dec. 3 - the lowest since February 2005 - and continues to fall as oil refineries curb production in response to weaker fuel demand, the report said. U.S. fuel demand averaged 19.6 million barrels per day in the last four weeks, down 5.7 percent from a year ago.