Show-Me State, federal gas averages drop

Both the state and federal gas average decreased during the past week, staying below $3 per gallon.

The Missouri average decreased 3.6 cents to $2.78 per gallon yesterday, while the national average fell 2.6 cents to $2.94 per gallon. Missouri prices have fallen 17.6 cents month-to-month and 6.8 cents year-to-year, while the national average is down 30.6 cents from a month ago and 26.9 cents from a year ago, according to a GasBuddy.com news release.

While GasBuddy senior petroleum analyst Patrick DeHaan noted the national average is at its lowest point since Dec. 4, 2010, the decreases are likely to slow unless oil prices continue to tumble.

“While the decreases are likely to wind down, motorists shouldn't expect any big rebounds before the holidays. Nationally, prices are likely to remain under $3 (per gallon) for the holidays,” he said in the release.

Missouri’s average fell another cent this morning, placing the Show-Me state at No. 10 on GasBuddy’s list of the lowest averages in the nation. With its $2.66 per gallon average, South Carolina led the list, while Hawaii bottomed it out at $3.99 per gallon.

In Missouri, four stations in Bonne Terre were selling gas at $2.53 per gallon, the lowest price statewide. The highest price was $3.19 per gallon at a station in Cape Girardeau, according to GasBuddy’s MissouriGasPrices.com.

Springfieldians could find gas at $2.60 per gallon at the 215 N. Kansas Expressway Kum & Go. Prices elsewhere in the city ranged from $2.64 per gallon to $2.72 per gallon.

West Texas Intermediate crude oil was trading at $78.65 per barrel as of 9:41 a.m., compared to $80.54 per barrel a week ago. Light sweet crude oil futures for December were trading at $78.40 per barrel on the New York Mercantile Exchange.