Motor fuel drops despite global tensions

The Israel-Hamas and Ukraine-Russia wars are keeping motor fuel from dropping more precipitously, report industry experts.

The U.S. and Missouri average prices for regular unleaded dropped in the past week, to $3.50 and $3.17, respectively

Despite slackening demand, the pace of falling gas prices is being held up by the cost of oil, which is hovering in the mid-$80s per barrel, according to auto club federation AAA.

"The oil market is very sensitive to global events and fears of a widening war in the Middle East is keeping oil prices elevated for now," said Andrew Gross, AAA spokesman. "Domestically, drivers will likely see pump prices keep up this slow slide toward the holidays."

Show Me State prices remain among the lowest in the country, with Georgia boasting the nation's lowest statewide price at $2.97.

California retains its monthslong status as the most pricey state for motor fuel with a $5.30 average.

County averages Saturday (AAA)

• Cape Girardeau: $3.10;
• Perry: $3.09;
• Scott: $3.26.

Price ranges Saturday (GasBuddy)

• Cape Girardeau: $2.95 to $3.29;
• Jackson: $2.89 to $3.19;
• Perryville: $3.09;
• Scott City: $3.19.

Missouri diesel prices continue to buck the trend with the heavier-weight fuel up 12 cents in the past week to $4.38 per gallon on average. One year ago, diesel cost $5.06.

Do you want more business news? Check out B Magazine, and the B Magazine email newsletter. Go to www.semissourian.com/newsletters to find out more.