Local

Gallon of Regular Back Below $3.00

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UPI/Bill Greenblatt

UPI/Bill Greenblatt

ST. LOUIS, Mo. (KMOX) - If you have to fill up your tank this morning there’s some good news; the price per gallon is back below three dollars, at least on the St. Louis side of  the Mississippi.

Right now according to Gas Buddy-dot-com St.Louis area motorists are paying between $2.88 and $2.99 a gallon, while over in the Metro East, with the higher Illinois gas tax,  motorists are looking at a low of $3.29 to a high of $3.59 for a gallon of regular.

The good news in all this,  oil analyst Peter Beutel says if economic worries continue to weigh down the markets, you can expect gas prices to fall even further.

“I do think we are going to see lower prices here at the pump over the next  period of time.

Beutel says oil prices have fallen so significantly, he says gas prices  should be down even more than they are now.

“There is some good news but there should be ever more good news out there  actually.”

So while stock markets around the globe continue to tumble so will the price  of a gallon of gas. Stock market analyst Phil Flynn at PFG-BEST says it’s been  a nightmare summer for gas prices, because of floods, hurricanes, tropical  storms, and the so-called Arab Spring; all of which have forced oil prices  up. But now, Flynn says he expects prices to go down even more in the weeks
ahead.

“We could see gas prices fall another 10 to 15 cents moving gas in some parts  of the country to below $3.00 a gallon.”

And Flynn thinks the downward trend is going to be in place for a while.

“We’ve see a dramatic drop over the past several days and I would expect it  to continue.  I think finally U.S. drivers are going to get a break.”

Triple-A says the current average price nationwide for a gallon of regular  gas is $3.42.

At this time one year ago, St. Louis motorists were paying $2.51 for a gallon of regular gasoline.

Copyright KMOX

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