Gas prices expected to drop as fall approaches
Euphenie Andre
COLUMBIA, Mo. (KMIZ)
Filling up your tank may not sting as much as it did a few years ago. As travelers hit the road for the holiday weekend, Missouri is standing out as one of the states with the lowest gas prices in the country.
Jeff Pawlow, stopped in Columbia for a gas break as he continued his travel to Illinois. Pawlow said he prefers to fill up in Missouri.
“Taxes are much higher in Illinois, so we love gassing up in Missouri, definitely cheaper in the Show-Me State,” Pawlow said.
Gas prices in Missouri have fluctuated over the years. According to GasBuddy, the state’s highest average price was $4.72 per gallon in June 2022. The lowest came during the COVID-19 pandemic in April 2020, when gas sat at just $1.36.
“Yeah, that was nice. I don’t know if we’ll ever see prices that low again,” driver Pawlow said.
Within Mid-Missouri, Chariton, Randolph, and Boone counties have the highest prices, averaging in the $2.90s. Meanwhile, Moniteau, Morgan, and Cole counties hover around the state average in the $2.80s.
Drivers in Jefferson City have seen prices drop about 35 cents from this time compared to last year, while Columbia has experienced a smaller decrease of 21 cents.
Nikuze Yvan, another driver, said the small change makes a difference.
“Based on the budget, sometimes you have to think about gas. My car doesn’t take much, but if I want to travel and prices go down, that’s always a good thing,” Yvan said.
Summer gas prices have held steady and are expected to trend downward as we move into the fall season. According to AAA, gas has been hovering around the $2.80 mark for the past month. That’s about 15 cents cheaper than this time last year.
According to the U.S. Energy Information Administration, retail gas prices nationwide are trending lower as Labor Day approaches. Crude oil, which makes up more than half of what determines gas prices, averaged $67 per barrel this month, about $15 lower than August of last year.
The EIA attributes the lower costs to the seasonal switch to the winter fuel blend, which is cheaper to produce.
Officials said gas prices could drop another 35 cents per gallon by December.