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News Brief

Aug. 20, 2019 |  By: Simon Clark

Gas prices will likely increase by Labor Day

In the past week, the state of Missouri's gas prices have dropped by 5 cents per gallon. Head of Petroleum Analysis for Gas Buddy, Patrick DeHaan, says gas and oil prices may slightly increase for the upcoming Labor Day holiday.

"The declines may wrap up and then we will probably ahead of Labor Day, we may see some slight increases at it relates to gas prices.  I don't think it's going to be severe, but with oil prices having rebounded slightly from recent lows, I think gas prices will eventually follow in that by Labor Day."

DeHaan says that since fuel demand generally lowers in the fall and winter, we may possibly see a decline in gas prices once more.

"I think as we progress into the fall, October, November, gas prices will move lower and I think we will eventually reach a bottom sometime between Thanksgiving and Christmas.  Prices by then, depending on if there's a trade deal with China, could be 15 to 25 cents a gallon lower than where they stand today."

Gas Buddy shows that gas prices are currently sitting at a steady $2.29 a gallon as of August 19th.