Missouri had the cheapest gasoline in the country Monday, according to AAA, and Kansas wasn’t far behind. What’s more, a further decline could be on the way.
Prices at many Kansas City area stations dropped a few cents Monday, capping a recent series of declines that have brought the cost of a gallon of gas down about 20 cents. AAA said Monday that regular gas in the area on the Missouri side averaged $2.36 per gallon.
On the Kansas side, it was $2.42 per gallon. Kansas’ state gas tax is higher than Missouri’s, accounting for much of the difference.
Crude oil and wholesale gasoline prices also retreated Monday, in part because of continuing ample supplies and weak demand nationwide for petroleum products, including gasoline. In addition, worries that an economic recovery will take longer than previously hoped have taken much of the speculation out of the market, which had caused prices to rise.
Regardless, motorists are paying far less for fuel than they did a year ago. The price of a gallon of regular gasoline last July passed $4 per gallon. Current fuel prices are saving the average area household about $150 a month compared with a year ago.