The drop of oil prices continues to hit gas pumps in our area. The national average has decreased 12.8 cents per gallon during the last month and stands 82.8 cents per gallon lower than this day one year ago, GasBuddy said. Gas prices have fallen 64 of the last 67 days.
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Though most drivers across the country are incurring about 25% less on fuel costs compared to an year ago, refinery outages have prevented California drivers from the benefit of lower gasoline prices.
Oil prices fell under $40 a barrel on the New York Mercantile Exchange Monday, their lowest level since February 2009, and at times traded under $39.
Gas prices around the region are lower after refinery problems caused a spike recently in Great Lakes states. Elsewhere across the city, prices ranged from $2.35 to $2.40 per gallon. BP hasn’t confirmed any restart of the Whiting refinery, though there was some speculation on Friday that it would restart over the weekend. Light sweet crude oil futures for October were trading at $38.86. In Los Angeles unleaded gasoline averaged $3.71 and some stations are charging as much as $5 per gallon. He expects gas to be below $2 by Thanksgiving, if not well before then.
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In Springfield, the lowest price was $2.31 per gallon at Price Cutter Express, 1260 St. Louis St., followed by $2.34 per gallon at both Sam’s Club stores.
