Missouri gas prices fall for third consecutive week, AAA says

FOX23 News at 9 p.m

JEFFERSON CITY, Mo., (KBSI) — Missouri drivers are seeing some relief at the pump as gas prices continue to decline for a third straight week, according to AAA.

The statewide average price for regular unleaded gasoline is $3.79 per gallon, down 12 cents from a week ago. However, prices remain 95 cents higher than they were at the same time last year.

AAA reported that Missouri gas prices remain well below the state’s all-time high of $4.68 per gallon, which was recorded on June 11, 2022.

Among Missouri’s major metropolitan areas, Jefferson City recorded the highest average gas price at $3.99 per gallon, while Joplin had the lowest average at $3.55 per gallon.

Nationally, the average price for a gallon of regular gasoline has fallen for three consecutive weeks, dropping from $4.56 on May 21 to $4.12 this week. AAA attributed the decline in part to crude oil prices remaining below $100 per barrel.

According to the U.S. Energy Information Administration, gasoline demand increased last week from 8.59 million barrels per day to 8.73 million barrels per day. Domestic gasoline supplies also increased slightly, while production averaged 9.7 million barrels per day.

AAA noted that uncertainty surrounding the Strait of Hormuz and global oil markets could affect fuel prices in the coming weeks.

The most expensive gasoline markets in the nation were California, Hawaii and Washington, while Indiana, Texas and Oklahoma reported the lowest average prices.