Gas Prices Trending Lower As Memorial Day Approaches
ST. LOUIS (KMOX) – Finally! Some good news for drivers as local fuel prices continue to drop.
According to the price-tracking website www.stlouisgasprices.com, the average for regular unleaded now stands at $3.66 a gallon, down another three cents per gallon from Sunday.
Can we expect prices to stay this low for awhile, at least?
“As long as wholesale gasoline is below $3 a gallon, we should see prices continue to moderate actually,” Mike Right, VP of Public Affairs with AAA of Missouri, tells KMOX News.
He says local gas prices set a record high of $3.99 a gallon earlier this month, partly because of problems caused by flooding along the Mississippi River and its tributaries.
What else has been driving pump prices down since that high-water mark earlier this month?
“We’re seeing a moderation in both crude-oil costs,” Right explains. “At one time it was as high as $113 a barrel. It’s now below $100 a barrel.”
And finally, KMOX News wondered, how long can we expect prices to remain this low with the unofficial start of the summer travel season now just one week away?
“Let me get out my crystal ball,” a laughing Right answers.
He does say that AAA is predicting 31 million Americans will hit the road over the Memorial Day weekend, a slight increase over last year.
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