Price of gas continues to fall

The price of gas continues to decrease, however, the statewide gas price average in Missouri is still $3.52 for a gallon of regular unleaded fuel, according to the AAA Missouri Weekend Gas Watch.

The price is 10 cents less compared to this day last week and is 65 cents more per gallon compared to this day last year.

Locally, drivers in Sikeston are paying $3.59 per gallon Friday while the lowest reported in the Standard Democrat area was $3.38 in Matthews on Friday morning.

Of the major metropolitan areas surveyed in Missouri, drivers in Jefferson City are paying the most on average at $3.71 while drivers in Joplin are paying the least at $3.32 per gallon. The national average price for a gallon of regular unleaded is $3.94, which is seven cents less compared to this day last week and 76 cents more than the price per gallon at this same time last year, according to AAA Gas Prices.

Stable crude oil prices contributed to another substantial weekly drop in pump prices in Missouri and around the country. Crude oil, which accounts for 60 percent of what drivers pay at the pump, has fallen to levels not seen since late January 2022. Lower demand for gasoline – in part because of drivers facing higher gas prices this summer – is also a factor. A recent AAA survey found that nearly two-thirds of drivers have changed their driving habits because of higher gas prices. However, end of summer leisure travel is still expected to be strong with many travelers opting to take road trips.

“As long as the crude oil market remains stable, pump prices have the potential to continue to fall” said AAA spokesperson Nick Chabarria. “That’s welcome news for drivers planning end of summer road trips, which remained the preferred method of travel this year despite higher prices.”

Drivers in Missouri are paying the 9th lowest gas price average in the country, according to gasprices.aaa.com. Meanwhile, drivers in California are the paying the most at $5.34 on average for a gallon of regular unleaded.