Despite Drilling, Gas Prices Rising

Photo Courtesy of Creative Commons

The national average price for a gallon of unleaded gas reached $3.74 Tuesday, jumping 44 cents in one month.

In Missouri, gasoline prices are averaged at $3.68.  This is up 51 cents from the $3.17 it was one month ago, and 23 cents from one year ago.  Gas prices in St. Louis specifically have risen more than 20 cents in the past year.  Metro East, where gasoline taxes are high, marked an average price of $3.88, up from $3.56 a month ago and $3.63 a year ago.

For 33 consecutive days, a increase in the average selling price of unleaded gasoline has been recorded.  This trend has occurred despite the jump of nearly 800,000 barrels of oil produced per day in the United States.  A projection by the US Energy Information Administration hypothesizes that U.S. oil production will rise from 6.89 million barrels per day in November of 2012 to 8.15 million barrels per day by December of 2014.

Read more in the St. Louis Post-Dispatch

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