ALTON/EDWARDSVILLE - The declining costs of gas at the pumps are showing signs of a slowdown. The statewide gas price average in Missouri is $2.81 for a gallon of regular unleaded fuel, according to the AAA Missouri Weekend Gas Watch. That price is six cents less compared to this day last week and is 25 cents less per gallon compared to this day last year, AAA reports.
In Alton at Casey's on Broadway on Thursday, Nov. 30, 2023, the price of unleaded was $3.44 per gallon. Across the river in West Alton, Mo., Phillips 66 had a price of $2.95 a gallon on the same date.
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In other comparisons, QuikTrip in Edwardsville had a price of $3.17 for a gallon of regular unleaded gasoline on Thursday, while Casey's in Wood River offered a price of $3.28 per gallon. The price of Walmart in Godfrey was $2.89 per gallon and Circle K in Edwardsville was at $2.77 per gallon.
The national average price for a gallon of regular unleaded is $3.25, which is two cents less compared to this day last week and 24 cents less than the price per gallon at this same time last year, according to AAA Gas Prices.
Daily price declines have slowed to a trickle, and over the last week West Texas Intermediate crude prices have bounced around between $74 to $78 per barrel. OPEC+ is weighing additional production cuts, which may push crude prices higher. Crude oil is the main ingredient in gasoline, making up 50 to 60 percent of the cost of each gallon of fuel.
"Drivers may soon notice prices creeping back up," said AAA Spokesperson Nick Chabarria. "Where gas prices head to close out the year will largely depend on crude oil prices and the impacts from any announced production cuts by OPEC+ countries.”
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