Gas below $3 a gallon in Cape

Gas prices dropped below $3 per gallon Friday at a handful of stations in Southeast Missouri, causing lines at pumps earlier in the day, but traffic slowed down a bit as prices continued to fall.

By late afternoon, crude oil was selling for less than $80 a barrel, and gasoline was trading at $1.86 per gallon on the New York Mercantile Exchange.

The average price of gasoline in Missouri was $2.98 a gallon, down from $3.28 a week ago, and 28 cents below the national average, according to the price-tracking website gasbuddy.com.

In other parts of the state, prices dipped as low as $2.59 in Springfield and $2.61 in Independence, but lingered around the $2.99 mark in Southeast Missouri most of the day Friday.

Prices at Huck's, 353 S. Kings­highway, had dropped to $2.92 by 4 p.m. Friday, and average price in the city fell to just below the $3 mark.

Lines at lunchtime may have been several cars long at a few Kingshighway stations, but some of the rush died down by midafternoon.

At Rhodes 101, 1126 N. Sprigg St., employees said the pumps had been unusually busy for a Friday.

"We're headed toward much lower prices," said Mike Right, spokesman for the American Automobile Association's St. Louis office.

Right said some of the higher prices still scattered over the region would gradually drop but consumers had to wait it out until retailers went through the batch they'd purchased at a higher price.

By late afternoon Friday, at least 10 stations in Cape Girardeau still had prices higher than $3.

Retail prices include the cost of delivery as well as state and federal taxes, which add 35.4 cents to the price of each gallon.

Consumption statewide fell almost 3 percent during the first eight months of 2008 compared to last year, according to a report issued by the Missouri Department of Revenue.

Prices should continue to drop steadily as commodities prices fall, Right said.

"We should see some interesting gas prices in the near future," he said.

bdicosmo@semissourian.com

388-3656

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