SIKESTON — Gas prices across the country and state are continuing to drop slowly, contributed to stable crude oil prices and lower demand.
The statewide gas price average in Missouri is $3.32 for a gallon of regular unleaded fuel, according to the AAA Missouri Weekend Gas Watch. That price is three cents less compared to this day last week and is 48 cents more per gallon compared to this day last year.
In Sikeston, drivers are paying $3.29 a gallon with drivers in Jefferson City paying the most on average at $3.44. Drivers in Cape Girardeau are paying the least at $3.18 per gallon.
The national average price for a gallon of regular unleaded is $3.70, which is six cents less compared to this day last week and 52 cents more than the price per gallon at this same time last year, according to AAA Gas Prices.
For nearly three months consecutively, the Missouri statewide gas price average declined on the week. Prices at the pump continue to fall largely due to lower crude oil prices and a decline in gasoline demand nationwide.
September crude oil prices have remained below $90 per barrel and gasoline demand is down 9.2% from this time last year, according to the latest data from the U.S. Energy Information Administration. However, market analysts point to tightening global oil supplies and continued market volatility as potential trouble spots heading into the fall and winter months.
“Crude oil prices have settled below $90 per barrel, at least for the time being, contributing to declining prices at the pump.” said AAA spokesperson Nick Chabarria. “But as cooler weather approaches and oil supplies tighten, drivers could see price fluctuations when filling up.”
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 $5.43 on average for a gallon of regular unleaded.