Missouri gas prices rise as crude oil tops $100 per barrel

FOX23 News at 9 p.m

JEFFERSON CITY, Mo. (KBSI) — Gas prices are climbing across Missouri as crude oil prices remain above $100 per barrel, according to AAA Missouri.

The statewide average for regular unleaded fuel is $3.83 per gallon, up 22 cents from a week ago and 97 cents higher than a year ago. Among major metro areas, Cape Girardeau has the highest average at $3.92 per gallon, while Joplin has the lowest at $3.73.

The national average is $4.30 per gallon, up 27 cents from last week and $1.12 higher than this time last year.

After nearly two weeks of declines, prices are rising again as global oil markets react to uncertainty surrounding the reopening of the Strait of Hormuz, a key shipping route. The disruption has pushed fuel prices to their highest levels since 2022.

“Drivers had been seeing some minor relief at the pump, but that trend has quickly reversed as crude oil prices climb and uncertainty continues around the Strait of Hormuz,” said Nick Chabarria, a spokesperson for AAA Missouri. “Because crude oil is the main driver of gasoline prices, continued volatility in the global oil market could keep upward pressure on pump prices in the days ahead.”

According to the U.S. Energy Information Administration, gasoline demand increased last week from 9.05 million barrels per day to 9.10 million, while total domestic supply fell from 228.4 million barrels to 222.3 million. Gasoline production also declined, averaging 9.8 million barrels per day.

In oil market trading, West Texas Intermediate crude rose $6.95 to settle at $106.88 per barrel. U.S. crude inventories decreased by 6.2 million barrels to 459.5 million, about 1% above the five-year average for this time of year.