The price of gasoline remains about 70-cents below the average price from one year ago and although there are weekly fluctuations, the price for a gallon has remained below two dollars for the last several months. The Phillips 66 Wood River Refinery continues to process fuel for the St. Louis metro area and a spokesperson doesn’t see the price trend ending as long as oil prices remain low.
Melissa Erker tells the Big Z there are a few factors at work that are keeping the prices in check:
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Erker says the 30 to 40 cent price swings we see at some retailers each week on a gallon of gasoline are more of a price correction, since the competition in the market is so tight and stations are trying to balance their bottom lines.