Gas prices to increase later this month

CAPE GIRARDEAU, Mo. (KBSI) – The supply of gasoline has fallen by seven million barrels over the last two weeks according to the latest data from the Energy Information Administration.

West Texas Intermediate crude oil is approximately $2 more when compared to one month ago.

Crude oil is the main ingredient in gasoline, and if it continues to become more expensive, gasoline prices will likely increase.

According to the AAA Missouri Weekend Gas Watch, the statewide gas price average is $2.87 for a gallon of regular unleaded fuel.

That price is 8 cents more compared to this day last week, and is 20 cents less per gallon compared to this day last year.

Drivers in St. Louis are paying the most on average at $2.97 per gallon, and drivers in St. Joseph are paying the least at $2.78 per gallon.

In Cape Girardeau, the average price per gallon is $2.94, which is 7 cents higher than the state average.

The national average price for a gallon of regular unleaded is $3.28, which is 13 cents more compared to this day last week and 14 cents less than the price per gallon at this same time last year.

“Gas price fluctuations continue, with prices rising by an average of eight cents per gallon week-to-week for regular unleaded gasoline,” said AAA spokesperson Nick Chabarria. “Fuel prices will likely continue to fluctuate throughout the remainder of February and could increase as March approaches.”

Drivers in Missouri are paying the 5th lowest gas price average in the country, according to gasprices.aaa.com.