Missouri gas prices at lowest in over a year
CAPE GIRARDEAU, Mo. (KBSI) – In the state of Missouri, the average price for a gallon of regular unleaded gasoline has dipped below $3 for the first time in 317 days.
“This certainly is coming at a very good time,” AAA Public Affairs Specialist Don Redman said.
A very good time because we are approaching the Christmas and New Year’s holidays, which are some of the busiest travel times of the year.
Redman said with the average cost of crude oil down about 20 percent from what it has been at times this year, this fact is providing drivers some relief at the pump.
“Even though demand really hasn’t waned that much for this time of the year, we’re still seeing that break price at the pump because we’re seeing a decrease in the price of crude on the open market,” he said.
Redman said January and February are typically slower months in terms of demand.
“In the winter, the dead of winter, there’s just not the same demand as we see in July, and so that’s usually sometimes we see some of the best prices in the winter months,” he said.
And so, even though prices in Missouri are the lowest they’ve been since October 2021, Redman anticipates prices to drop even lower as we flip the calendar to 2023, barring any major upheavals in the market.
“I think certainly once we get past the holidays, I think that’s really when you’re really going to see a precipitous drop in prices,” he said. “Of course, that’s barring any kind of major disruption in pipelines and distribution.”
The national average price for a gallon of gas currently sits at $3.33, which is one cent lower than this time last year and 14 cents cheaper than it was a week ago.
In Cape Girardeau, the average is $3.14, a drop of 11 cents since last week.