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News Brief

Dec. 2, 2019 |  By: Simon Clark

Gas prices dropped 1.4 cents in past week

Missouri's prices on gasoline have dropped over 1.4 cents per gallon in the past week.

The current average as of today sits at $2.22 a gallon. Gas prices are 5.2 cents lower than last month yet still stand 18.6 cents higher than last year's gas price average at this time of year.

Head of Petroleum Analysis for GasBuddy, Patric DeHaan, sites the speculation of a U.S. and China trade deal on petroleum to help with the country's overall gasoline price average but that has remained elusive for over 16 months. DeHaan also says that for the month of December gas prices "trend lower during the month" as a response to the curbing of gasoline demand in the colder months.

DeHaan says he places much of the blame on higher gasoline prices on a strong U.S. economy with continued optimism that a U.S./China trade deal will wrap up.