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Gas prices going down?Posted Thursday, May 12, 2011, at 1:37 PM
Will a drop in crude oil prices mean lower prices for you at the gas pump?
Last week, oil prices fell more than 15 percent. That's the steepest decline in two and a half years. This morning, oil was trading at $97 a barrel after months of trading topping $100 a barrel.
Yesterday the U.S. Energy Information Administration also predicted lower than expected demand for oil. This information prompted prices to continue to decline.
While the price of oil may be going down, the price of gasoline at the pump is still about $1 higher now than one year ago in Missouri.
According to AAA, the current average price of regular unleaded gasoline is $3.85 a gallon in Missouri.
Today's average price is near the all time record of $3.94 set in July 2008.
One year ago, it was $2.71 in Missouri.
With the school year wrapping up, many people are now planning their summer vacations. Will gas prices impact your summer travel plans?
Here's a link to prices at the pump in Cape Girardeau from MissouriGasPrices.com:
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Melissa Miller is business editor at The Southeast Missourian. A graduate of the University of Missouri Journalism School, she's worked as a reporter, photographer, editor and as the executive director of two not-for-profit organizations. After living in Michigan and then Indiana, she moved back to her hometown of Jackson, Mo. In addition to writing daily stories for The Southeast Missourian, Melissa coordinates editorial content each month for Business Today. Business Today is a monthly publication for southeast Missouri's business community. Monthly themes include health care, agriculture, women in business, technology and more. Business Today is direct mailed to business owner and managers throughout southeast Missouri and southern Illinois. Follow her updates on local business developments at www.twitter.com/semissourianbiz or on Facebook at www.facebook.com/MelissaMillerSoutheastMissourian