Gas prices continue to rise, Missouri better off than most states

3 months 12 hours 20 minutes ago Wednesday, May 16 2018 May 16, 2018 Wednesday, May 16, 2018 2:38:00 PM CDT May 16, 2018 in News
By: Monica Madden, KOMU 8 News
loading

COLUMBIA - A trip to the gas station may leave drivers' wallets emptier than usual as Missouri prices went up 9.1 cents per gallon in the last week. 

According to AAA, Wednesday's current average for gas prices in Columbia is $2.795 per gallon, compared with neighboring Jefferson City at $2.663 per gallon and statewide at $2.671. That's upward of 50 cents higher than last year's rates.

KOMU 8 News spoke with several drivers at gas stations in Columbia. A handful of drivers noticed the difference, but a few didn't notice the price change at all. 

"It isn't impacting me yet, but it probably will," Joel Sartwell said. "I'll start biking to work a little more. I just like to save that money, it can add up." 

Dan McTeague, senior petroleum analyst at GasBuddy.com, said drivers can expect more of an increase within the next week. 

"We haven't quite hit the magical summertime period where summer demand driving starts to kick in," McTeague said. "That comes in officially with the start of Memorial Day Weekend and I think that's really a sign of where we expect prices to increase another 10 cents a gallon."

Nationally, the average for gasoline prices went up by 5.7 cents per gallon in the past week, putting prices 53.8 cents higher than last year's prices. On Wednesday, the national average price was at $2.891 per gallon, and McTeague said he expects it to rise to $3 soon, which hasn't happened in 2014.

While rising prices are a national trend, McTeague said comparatively, Missouri is in good shape. He doesn't expect Missouri to hit the $3 mark.

"You [Missouri] have a little bit of a sweet spot and you're among the lowest," McTeague said. "If you had to compare the lowest prices of any state, you guys are in the bottom 5 of the 50, and it's good to be in the bottom when it comes to prices."

McTeague has worked in the petroleum industry for three decades, and he said back in January he predicted 2018 would be the most expensive year for gas since 2014.

"And we're right on track," he said.

He attributes this increase to multiple factors like international tensions with Iran and supply and demand, but McTeague said the biggest factor is oil. This time last year, a barrel of crude oil cost $47, according to the U.S. Energy Information Administration. As of this week, a barrel costs $71.

More News

Grid
List
COLUMBIA - Columbia Regional Airport managers held the first All Things Airport monthly meeting on Thursday. The meeting was... More >>
37 minutes ago Thursday, August 16 2018 Aug 16, 2018 Thursday, August 16, 2018 9:48:00 AM CDT August 16, 2018 in Top Stories
(CNN) - Aretha Franklin, whose gospel-rooted singing and bluesy yet expansive delivery earned her the title "the Queen of Soul,"... More >>
39 minutes ago Thursday, August 16 2018 Aug 16, 2018 Thursday, August 16, 2018 9:46:00 AM CDT August 16, 2018 in News
LAWRENCE, Kan. (AP) — A Missouri woman who's charged with killing her 5-year-old daughter and critically injuring her 1-year-old son... More >>
1 hour ago Thursday, August 16 2018 Aug 16, 2018 Thursday, August 16, 2018 8:38:00 AM CDT August 16, 2018 in News
SPRINGFIELD (AP) — A jetliner taking off narrowly missed hitting an airport van that crossed a runway to go to... More >>
4 hours ago Thursday, August 16 2018 Aug 16, 2018 Thursday, August 16, 2018 5:46:00 AM CDT August 16, 2018 in News
JEFFERSON CITY (AP) — A former Missouri state trooper who was driving a boat when a handcuffed Iowa man fell... More >>
4 hours ago Thursday, August 16 2018 Aug 16, 2018 Thursday, August 16, 2018 5:41:00 AM CDT August 16, 2018 in News
MONTGOMERY COUNTY - A multiple vehicle accident shut down both sides of Interstate 70 Wednesday around 7 p.m. At least... More >>
13 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 8:28:00 PM CDT August 15, 2018 in News
COLUMBIA - The Columbia Police Department opened a new substation in northeast Columbia on Wednesday. It's located off of Paris... More >>
14 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 7:36:00 PM CDT August 15, 2018 in Continuous News
COLUMBIA – In his first comments on the extended period of weekend violence in downtown Columbia, Police Chief Ken Burton... More >>
14 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 7:28:00 PM CDT August 15, 2018 in News
COLUMBIA - The University of Missouri Police Department and the Columbia Police Department issued a joint statement Wednesday calling recent... More >>
16 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 6:24:00 PM CDT August 15, 2018 in News
JEFFERSON CITY, Mo. (AP) — A jury has awarded Missouri prison guards compensation for work they performed before and after... More >>
16 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 5:51:38 PM CDT August 15, 2018 in News
ST. LOUIS (AP) — A special prosecutor has been appointed to investigate allegations that a lawyer for the ex-husband of... More >>
16 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 5:49:00 PM CDT August 15, 2018 in News
JEFFERSON CITY - Teachers and staff spent their last day before the new school year not just preparing lesson plans... More >>
18 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 4:20:00 PM CDT August 15, 2018 in News
COLUMBIA - A grant and 10 year plan want to help revitalize an old section of Columbia and make it... More >>
18 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 4:03:00 PM CDT August 15, 2018 in News
KINGDOM CITY - Many rural school districts aren't getting enough from the state to pay for transporting students. Last... More >>
20 hours ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 2:22:00 PM CDT August 15, 2018 in News
BOONE COUNTY - Deputies arrested a man Wednesday morning following a chase throughout eastern Boone County. The chase started... More >>
1 day ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 10:16:00 AM CDT August 15, 2018 in News
CALLAWAY COUNTY - Both westbound lanes of I-70 east of Kingdom City were back open following a crash Wednesday morning.... More >>
1 day ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 8:09:00 AM CDT August 15, 2018 in News
COLUMBIA - Two medical marijuana November ballot measures are going to court ahead of the election, less than three months... More >>
1 day ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 7:13:00 AM CDT August 15, 2018 in News
(CNN) -- A new grand jury report says that internal documents from six Catholic dioceses in Pennsylvania show that more... More >>
1 day ago Wednesday, August 15 2018 Aug 15, 2018 Wednesday, August 15, 2018 6:20:00 AM CDT August 15, 2018 in News
Columbia, MO
Broken Clouds 80°
11am 83°
12pm 85°
1pm 88°
2pm 89°