Gas prices continue to drop

Gasoline prices have dropped about 60 cents in the last month, which makes fueling up cheaper than it was a year ago.

Motorists at gas pumps in Southeast Missouri are seeing some of the lowest prices in the country. Fuel at most local stations was less than $2.30 a gallon, with some charging below $2.15 on Friday afternoon.

"It's fantastic," said Joy Knutson-Ritter as she filled up her Honda CRV at Jaspers on U.S. 61 in Jackson. "I'll fill up my entire tank if the prices are reasonable. If not, I'll only put in about $5 until I find cheaper gas."

And the $2.14 per gallon for unleaded fuel at Jaspers was reasonable, the Pocahontas woman said.

Local gas prices are cheaper than the state's average of $2.43 per gallon of unleaded fuel, according to American Automobile Association spokesman Mike Wright. The local prices are well below the national average of $2.68 per gallon.

"I've got people thanking us, but we have no control over the prices," said Jim Maurer, co-owner of Rhodes 101 Convenience Stores. "We're just as happy to see them go down as everybody else is."

A combination of forces are driving prices down, Wright said. Oil prices are down to about $67 a barrel, and the price of wholesale gasoline continues to drop.

"We're also going into a period where the demand is falling off," Wright said. "Traditionally after Labor Day the demand goes down and supply goes up."

Other forces driving prices down are easing concerns over a potential oil embargo by Iran, the accelerated return to production by the Alaskan Prudhoe Bay oil field and lower-than-expected hurricane activity in the Gulf, according to the Missouri Department of Natural Resources.

A number of factors could send prices up, including any interruptions to crude oil production, Wright said.

"How long this is going to last is anybody's guess. It could change tomorrow if a hurricane damages the Gulf," he said. "But the index does suggest what's going to happen in the future is very positive."

Wayne DeBrock also took advantage of the lower than average fuel prices at Jaspers on Friday. The Oran, Mo., resident commutes to Jackson every day for work, and said the cheaper prices mean he's saving money.

"I'm just happy they're finally going down," DeBrock said.

jfreeze@semissourian.com

335-6611, extension 246