State gas prices highest since 2014

Gas prices in Missouri are the highest they have been in seven years.

According to the AAA Missouri Weekend Gas Watch, the statewide gas price average in Missouri is $2.82 for a gallon of regular unleaded fuel. That price is one cent more compared to this day last week and is 94 cents more per gallon compared to this day last year.

Drivers in the Cape Girardeau area are paying $2.74 per gallon on average, which is the lowest in the state. In the Sikeston area, drivers were paying $2.79 per gallon on average Thursday morning.

The national average price for a gallon of regular unleaded is $3.14, which is two cents more compared to this day last week and 96 cents more than the price per gallon at this same time last year, according to AAA Gas Prices.

AAA gas price data shows that the Missouri statewide average price has risen to its highest level since November 2014. Higher gasoline demand, and more expensive crude oil, have led to the price increase at the pump as a record number of Americans traveled by car over the Independence Day holiday weekend. Market analysts anticipate gas prices could rise by an additional 10 to 20 cents during the summer months.

“The average price for a gallon of regular unleaded on average in the Show Me State has increased by nearly 45 percent since the start of the year due to increased demand and higher crude oil prices as more people are traveling for leisure and business,” said AAA spokesperson Nick Chabarria. “Market analysts anticipate that this upward trend could continue through the summer.”

While gas prices continue to increase, drivers in Missouri are still paying some of the cheapest gas prices in the U.S., ranking fourth lowest in the country, according to gasprices.aaa.com.