Gas prices are forecasted to climb higher
Tue, 09 Jul 2013 19:08:58 GMT —
Missouri and Iowa gas prices have declined over the past week with a 3.2 cent drop in Missouri and a 1.5 cent drop in Iowa. This compares to a half cent drop across the nation. Both Missouri and Iowa are below the national average of 3.49 for a gallon of gas. Prices for gas are a few cents higher compared to a year ago and unfortunately prices are expected to climb higher throughout much of the week.
â??We're starting to see prices climb aggressively right now. The Missouri state average at 3.30 today is up 5 cents a gallon in the last 24 hours. I think part of it has to do with the fact that while refineries have improved their operations, the Department of Energy reported last week that the crude oil inventory available to these refineries dropped by 10 million barrels,â?? said Gregg Laskoski Senior Petroleum Analyst.
Civil unrest in Egypt is also to blame for rising prices in oil. Prices could be much higher by the end of the week, so be sure to top off your car now while prices are relatively low.