Gas prices continue to rise in the United States and fluctuations are likely to continue throughout the summer.
According to the AAA Missouri Weekend Gas Watch, the average gas price in Missouri is $ 2.76 per gallon of regular unleaded fuel. That price is three cents up from that day last week and 95 cents more per gallon from that day last year.
Of the major metropolitan areas surveyed in Missouri, drivers in Columbia pay the most, on average, at $ 2.83, while drivers in St. Joseph pay a minimum of $ 2.68 per gallon. The national average price per gallon of regular unleaded gasoline is $ 3.07, up three cents from that day last week and $ 1 more than the price per gallon at the same time last year, according to AAA. Gas Price.
Locally, the Cape Girardeau area averaged $ 2.70 a gallon on Thursday, up two cents from a week ago and 84 cents more than a year ago at that time.
Pump price fluctuations are likely to continue this summer. In addition to tracking gasoline supply and demand data, AAA monitors two other factors: crude oil prices and global supply. Oil prices are up, with West Texas Intermediate at $ 70 a barrel, the highest since October 2018.
Since oil accounts for more than 50% of the price of a gas station, when it rises, so does the price that motorists pay for fuel. What’s promising for drivers looking to lower their fuel costs is that crude oil may not keep up with this level. The Organization of the Petroleum Exporting Countries (OPEC +) and its allies, including Russia, announced last week that they still plan to gradually increase oil production in July. If they increase production, it could lead to lower crude oil prices.
“Gas prices are expected to fluctuate over the next few weeks,” said AAA spokesman Nick Chabarria. • Higher crude oil prices are likely to drive fuel prices up in the next few days.
Missouri drivers continue to pay some of the cheapest gas prices in the US, ranking 5th in the country according to gasprices.aaa.com.