Thursday's statewide gas price average in Missouri was $3.06 for a gallon of regular unleaded fuel, according to the AAA Missouri Weekend Gas Watch.
That price is flat compared to the same day last week and is 76 cents less per gallon compared to the same day last year. Of the major metropolitan areas surveyed in Missouri, drivers in Jefferson City were paying the most on average at $3.14, while drivers in Kansas City were paying the least at $2.97 per gallon.
The national average price for a gallon of regular unleaded is $3.46, which is flat compared to last week and 76 cents less than the price per gallon at the same time last year, AAA reports.
Crude oil prices fell significantly Wednesday, after issues at regional banks caused some concern for investors on fuel demand outlooks. Prices for a barrel of crude have been as high as $80+ last week but sat at the mid-$60s mark early Thursday.
"If crude oil prices keep falling, retail gas prices will likely drop," said AAA spokesperson Nick Chabarria. "However, we'll have to wait and see how much impact cheaper crude prices could have as the switchover to the more expensive summer-blend gasoline is taking place."
Missouri motorists are paying the third lowest gas price average in the country, according to gasprices.aaa.com. Meanwhile, California motorists are the paying the most at $4.88 on average for a gallon of regular unleaded.