MERIC NEWS LETTER

Gas Prices Reach Record High

Gas prices reached a record high in Missouri on May 22nd, according to the Daily Fuel Gauge report from the American Automotive Association (AAA). The average of $3.20 per gallon of regular unleaded gasoline Missouri consumers paid across the state ranks it 25th in the country, falling one cent below the national average. National levels for the date are also record highs.

Prices for all grades of gasoline in Missouri and the U.S. have steadily increased over the past month. A gallon of regular unleaded gasoline jumped 52 cents in the state and 35 cents in the country from one month ago. The average diesel fuel price is unchanged from one year ago.

Post-Hurricane Katrina gasoline prices in September 2005 were the last time prices approached current levels. Prices leveled off, however, and dropped throughout 2006 before spiking again recently.

Annual maintenance on refineries and pipelines along with high demand and tight supplies has been cited as the main contributing factors for the rise nationally. In Missouri, fuel normally distributed to the Midwest has been redirected to other larger markets.

12-Month Average for Regular Unleaded

Four of Missouri's five metropolitan areas reached their record high for the date. St. Louis was the lone exception, surpassing its previous high two weeks earlier on May 7 when it peaked at $3.14 per gallon. St. Louis remains 16-24 cents below the other metros and 14 cents below state averages. Kansas City was the highest average for the date at $3.30 per gallon.

Missouri Metro Regular Unleaded Gasoline Averages


       

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