Missouri gas prices dip below $3 per gallon for first time since January
Kentucky and Tennessee also below national average
CAPE GIRARDEAU, Mo. (KBSI) – “Might be short-lived celebration for those looking for sub-3-dollar gas prices,” said AAA Public Affairs Specialist Nick Chabarria.
Some relief for Missouri drivers this week as the average price for a gallon of gas dropped below $3 for the first time since mid-January…
But as Chabarria explains, these prices likely won’t stick around for very long.
“Putting aside any other global or geopolitical impacts, we usually see an increased demand for gasoline during the spring because, of course, folks taking spring break trips, also getting ready and maybe starting to travel as the weather warms up and school lets out,” said Chabarria.
The type of gasoline used during the warmer months also affects prices.
Added Chabarria: “States are starting to switch over to summer blend gasoline, which is federally regulated, but summer blend gasoline is more expensive to produce than winter blend.”
Chabarria says factors like historically high inflation and interest rates have also had a significant impact on gas prices because of the changes to supply and demand these factors cause…
“We have a lot of push-pull factors right now on the global oil and gas market, both domestically and abroad, so that’s why we’ve seen a lot of the volatility and really have seen gas prices fluctuating over the last several months and not typically not trending in one direction or the other very strongly,” Chabarria concluded.
It’s not all doom-and-gloom for drivers, as both Missouri, Kentucky, and Tennessee are all in the top 10 states with the lowest gas prices, but barring any unforeseen circumstances, $3 per gallon does not seem sustainable given the ever-changing state of the market.