Gas Prices Below $3 Gallon

ST. LOUIS, Mo. (KMOX) — Gas prices are about to break through a barrier, a positive barrier, that hasn’t been broken in six months.

That would be sub- $3 a gallon prices at the gas pump.

We’re talking average, because prices at some area stations have already dropped below the $3 mark, down to $2.85 for regular unleaded according to analyst Patrick DeHaan with the price-tracking website

DeHaan says the flip side is that dropping gas prices reveal concern over the economy. “Speculators concerned that if we go back in to the recession the demand for oil will tumble and they’re getting out of oil in light of that fear.”

Prices throughout the St. Louis region have dropped 18 cents since last Monday, and DeHaan thinks that could continue for awhile before heading back up as the holidays approach.

Copyright KMOX Radio


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