CHEAP GASOLINE TRICKLING AWAY; ENJOY IT WHILE YOU CAN: PRICES EXPECTED TO RETURN TO NORMAL SOON

After reaching their lowest level in Missouri since 1978, gas prices are expected to go back up soon.

The least expensive grade of unleaded fuel was priced at 69.9 cents per gallon at Basic Fuel in Jackson Tuesday. The last time gasoline was this cheap, full service pumps were the norm and the average tank of gas cost less than $10.

But the wholesale price of gas has increased by 1 3/4 cents per gallon in just the past three days, according to David Lemmon, owner of Basic Fuel.

"We're going to have to move it up in the next couple of days," Lemmon said.

Friday, the average gallon of gas went for 75.7 cents in St. Louis and 77.3 cents in Kansas City, according to Missouri Automobile Association.

But just in time for the holidays, prices are expected to creep back up towards the $1 range after spending the past few months a good 20 cents lower.

"Personally, I think it's about over. It's bottomed out," said Missouri AAA spokesman Mike Right. "It obviously was going to go back up sooner or later."

Right said the price of crude oil and wholesale gas is rebounding and he expects companies will be looking to compensate for months of low prices.

Lemmon said the current meeting of the Organization of the Petroleum Exporting Countries and the upcoming holidays are contributing to the rise in price.

Prices began to tumble throughout the country a few months ago, reaching lows that hadn't been seen in decades. A worldwide glut in crude oil and the Asian financial crisis helped force the price drop.

However, several Shell stations increased their prices by 10 cents a gallon over the weekend. Overall, prices were up 6 cents per gallon in the St. Louis area and Right expects the same held true in the rest of the state.

"It looks like they have decided that they have been giving up too much of their margins," Right said.

Kimberly Porter, 27 of St. Louis, said she had noticed a quick jump in the cost of gas as she pumped Amoco regular into her Nissan Altima Monday morning.

"I see it's gradually going up now. But when you're still paying 89 cents, it's really not that bad," she said. "It's not bad, unless prices go up to say, $1.03. Then it needs to stop."

Right said Missouri consistently is among the top four states with the least expensive gas. Low gas taxes and a competitive market often force companies into price wars that keep Missouri prices below the national average.

That isn't such good news to Tracey Wade.

"With these low, low prices people don't consider conservation issues," she said. "They're just content with cheap gas."

The Associated Press contributed to this story.