Gas prices still dropping, may go higher soon

Gas prices have steadily fallen this summer but a change in direction may be coming, energy analysts caution.

The national average for a gallon of regular gasoline stood at $4.23 Saturday, representing a 2 cent fall from Friday, a 15 cent drop from a week ago and a 62 cent reduction from a month ago.

While pump price declines have been seen for weeks, Energy Information Administration data could suggest the worm may soon turn.

EIA said rebounding gas demand is indicated, with 8.52 million barrels of oil being refined per day increasing to 9.25 million this past week.

In Missouri, the average statewide regular price was $3.87 Saturday.

Locally, service stations in Cape Girardeau, Perry and Scott counties all report sub-$4 gas.

City ranges

• Cape Girardeau: $3.49 to $3.79.
• Jackson: $3.44 (cash-only price) to $3.89.
• Perryville: $3.69 to $3.89.
• Scott City: $3.79 to $3.89.

Given the rapid fluctuation in the market, the Southeast Missourian does not assign prices to specific service stations.

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