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Gas price dips below $2

Gas prices are continuing to drop in the Parkland — and although some parts of the region are seeing bigger price decreases than others — it appears that fuel costs are going to continue moving downward for at least the immediate future.

While the price for regular unleaded at most Farmington gas stations spans between $2.10 and $2.19 a gallon, it’s available at stations in Bonne Terre, Fredericktown and Potosi for under $2 a gallon. As of Thursday afternoon, the lowest cost for a gallon of unleaded in the area was $1.86 a gallon at the Country Mart store in Fredericktown.

Throughout the area, however, prices have dropped a good 20 cents over the past couple of weeks, making it a lot more fun experience filling up the gas tank than it was just a month ago.

Statewide, gasoline prices in Missouri have fallen 9 cents per gallon in the past week, averaging $2.17 a gallon as of Thursday, according to a daily survey of 3,940 stations in the state. This compares with the national average that has fallen 7.8 cents per gallon versus last week to $2.53 a gallon, according to the same survey.

Looking at average gasoline prices over the past five years in the state, it’s obvious that the cost has ranged widely over the time period with gas going for $3 a gallon in 2013; $2.52 in 2014; $1.84 in 2015; $1.88 in 2016; and $2.27 in 2017.

Including the change locally during the past week, prices this week are approximately 9.9 cents per gallon lower than a year ago and are 37.7 cents per gallon lower than just one month ago. Meanwhile, the national average has dropped 29.4 cents per gallon during the last month and is 3.4 cents per gallon higher than a year ago.

Patrick DeHaan, GasBuddy petroleum analyst, said, “The $1.99 club has seen its membership swell in the last week with the number of states with stations priced at that level or lower spiking to 18 with Texas, New York, Missouri, Louisiana, Ohio, Oklahoma, South Carolina, Alabama, Mississippi, Michigan, Virginia, Arkansas, Kansas, Kentucky, New Mexico, Ohio, Tennessee and Illinois all have at least one station at $1.99 or less. The good news is it won’t end there.

“Oil prices have seen another weekly rout, with WTI crude oil shedding over $6 per barrel — or some 14 percent — to close the week at a mere $50 per barrel. While many may be a skeptic of the White House taking some of the credit, the Trump Administration’s reluctance to punish Saudi Arabia for its role in the murder of Jamal Khashoggi is likely leading Saudi Arabia to push against large cuts in crude oil production, fearing potential fallout from Trump. In the week ahead, motorists in most states will likely see further drops, saving the country $125 million a day versus prices in early October.”

The prices for a gallon of unleaded gas is dropping across the Parkland, but in the cities of Bonne Terre, Potosi and Fredericktown, the cost of gas has dropped below $2 a gallon. As of Thursday afternoon, the cheapest price for a gallon of unleaded fuel was $1.86 at the Country Mart in Fredericktown.

The prices for a gallon of unleaded gas is dropping across the Parkland, but in the cities of Bonne Terre, Potosi and Fredericktown, the cost of gas has dropped below $2 a gallon. As of Thursday afternoon, the cheapest price for a gallon of unleaded fuel was $1.86 at the Country Mart in Fredericktown.

Kevin Jenkins is a reporter for the Daily Journal and can be reached at 573-518-3614 or kjenkins@dailyjournalonline.com

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