Gas prices continue their sub-$4 fall

AAA reported Saturday the U.S. average for a gallon of regular gasoline stood at $3.96, continuing a slide below $4 per gallon that began Thursday. This past week saw sub-$4 gas on a national basis for the first time in five months, after the United States hit its high-water mark at the pump with a $5.02 average in mid-June.

State stats

Missouri's statewide average price was recorded Saturday at $3.55, down 2 cents from Friday, down 14 cents from a week ago and down 82 cents from a year ago. On June 16, the Show Me State hit its highest average price at $4.52.

Rationale

CNBC's energy analyst Pippa Stevens reports high prices bring down demand, which in turn depresses prices. Some states did suspend their gas taxes — notably, Missouri did not — and this moratorium also helped bring down pump prices, she said.

"The main reason, however, for the fall is the decline in oil prices. Crude is the single largest factor influencing pump prices, accounting for 50% of what Americans pay at the service station," Stevens said Friday.

Price ranges for local municipalities

• Cape Girardeau: $3.24 to $3.49
• Jackson: $3.24 to $3.64
• Perryville: $3.49 to $3.59
• Scott City: $3.44 to $3.49

The Southeast Missourian does not identify specific service stations due to the rapid volatility of prices and due to the newspaper's publication schedule.

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