SPRINGFIELD, Missouri (KY3) – If you needed to fill up your car on Tuesday, you may have noticed that prices in southwest Missouri increased by about 10 cents on average.
According to AAA, the average price of regular gasoline in the Show-me State is currently $3.15, just two cents higher than yesterday. In the Springfield area, however, the jump is much larger. In Springfield, the average price is about $3.09, down from $2.99 on Monday.
“Tensions have been rising in the Middle East in recent days,” said Nick Chabarria, a AAA official. “Any time there is a threat of conflict there, it obviously has an impact on crude oil around the world and certainly here in the United States.”
Chabarria said before this week that crude oil prices had fallen for four weeks in a row. Prices have since risen to around $80 a barrel. He also said it’s important to consider how high gasoline prices have been in recent weeks. The average price in Springfield, at $3.09, is actually 10 cents higher than yesterday. But it’s the same average price as a week ago. A month ago, it was $2.95; a year ago, it was $3.60, and he said Missouri has the 10th lowest average price in the country.
“They can go up very, very quickly. It’s usually very, very hard to bring them down quickly,” said David Mitchell, professor and director of the Bureau of Economic Research at Missouri State University. “Gas stations have already bought the gas at that higher price. They’re reluctant to give it away at a lower price that might be below cost, at least until the tanks are emptied again and they have the opportunity to buy it again.”
Mitchell says a number of factors can affect the price you pay at the pump. He attributes recent price spikes to unrest in the Middle East and the fact that summer vacations are coming to an end.
“I think a lot of people are going out to say ‘hurrah’ to their kids before the semester starts,” Mitchell said. “I think that has a lot to do with it, too.”
According to AAA, as summer ends, prices typically drop into the colder months.
“Partly because demand for gasoline is falling, but also because gas stations are switching from the summer blend to the winter blend, which is slightly cheaper to produce,” Chabarria said.
While drivers can’t do anything about gas prices, there are some things they can do to offset their fuel consumption. The AAA recommends having your car serviced regularly. The idea is that your car will be more fuel efficient if it’s running well. Additionally, the AAA recommends consolidating your trips. If possible, spread your errands out over as few trips as possible.
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