Gas Prices Spike in St. Louis Area
By Bill Raack, KWMU
St. Louis – Gasoline prices are shooting back up in the St. Louis area and experts say all Missourians can expect the same trend.
The American Automobile Association says the cost of gas jumped overnight from an average of $1.45 per gallon of regular unleaded, to about $1.65.
Analyst Mike Right says the increases are the result of a variety of market forces, including OPEC's refusal to pump more oil.
"OPEC is holding their output fairly firm in the face of what many believe to be rapid increases in demand," Right said. "And they are not scheduled to meet until next month and the early indications are that they may not increase their output, which will of course put additional pressure on the supply and demand equation."
Right says that it appears more gasoline price hikes are on the way for the entire two-state region.