How gas prices have changed in Joplin in the last week
Gasoline prices haven't changed much in several weeks, and on average they sit about 45 cents lower than this same time last year. For the majority of the season, filling up the tank has cost as much—if not less—than it did last summer, according to AAA data.
That trend may continue as the weather cools down and seasonal travel demand falls. Hurricane Ernesto veered away from the U.S. this week and spared drivers the impact of damaged oil and gas infrastructure, even if it is causing turbulence for late summer beachgoers.
"With the transition to winter gasoline less than a month away for the majority of the nation, gas prices will soon begin their seasonal cooling off—just as temperatures soon will as well," GasBuddy analyst Patrick De Haan said in a statement Monday.
Stacker compiled statistics on gas prices in Joplin, MO metro area using data from AAA. Gas prices are current as of August 19.
Joplin by the numbers - Gas current price: $3.02 --- Missouri average: $3.14 - Week change: +$0.03 (+1.2%) - Year change: -$0.42 (-12.1%) - Historical expensive gas price: $4.52 (6/16/22)
How gas prices have changed in Joplin in the last week
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Gas prices surged in 2021 and 2022 because of economic disruptions caused by the pandemic and Russia's invasion of Ukraine. The average cost of a gallon of gas peaked at $5.016 on June 16, 2022, according to AAA, which tracks gas prices.
The onset of the pandemic led to an initial drop in prices for petroleum-based products, and then, just as abruptly, prices rose sharply as producers limited production and demand increased.
In general, gas prices tend to be lowest at the beginning of the week, on Monday and Tuesday, GasBuddy's lead petroleum analyst Patrick De Haan told Nexstar. As the week goes on, gas prices tend to rise until they reach their most expensive point on the weekend – especially on Friday and Saturday.
“Stations generally fill their underground tanks every 3-5 days, and with wholesale prices varying daily, and energy markets moving constantly, there's a wide range in what stations themselves pay,” he said in an email. And then there are land prices. The Chevron station at 16801 Ventura Blvd.
The increase comes after reports Russia and Saudi Arabia will extend production cuts through the end of 2023. “Higher crude oil prices is largely to blame for the increase as crude oil accounts for about 60 percent of the overall price of gasoline,” said AAA Spokesperson Nick Chabarria.
The EIA forecast shows inflation-adjusted natural gas prices drop to $12.75 per Mcf in 2024 and $12.00 per Mcf in 2025, a decline of 17% and 22%, respectively, from 2023 prices.
Petroleum prices are determined by market forces of supply and demand, not individual companies, and the price of crude oil is the primary determinant of the price we pay at the pump.
California continues to lead the nation with the highest gas tax in 2024, which climbs to 69.8 cents per gallon as of July 1. This increase pushes the Golden State's average price for a gallon of regular gasoline to about $4.79. In other tax news, California also has a new gun and ammo tax effective July 1.
Myth: Drilling for more oil in the United States would lower high gas prices. Fact-check: Drilling for more oil in the United States will not lower gas prices because the production of U.S. oil does not set the price of gas—the global price of oil does.
Mississippi has the lowest price of gas, with an average of $2.89 per gallon of regular gas. Table with 0 columns and 0 rows. Per gallon of regular gas. Prices are updated daily.
The last time fuel prices passed $6 in LA County was Oct.18. The Los Angeles County average price has increased 53 times in 58 days. The steady increase has pushed the average price to 47 cents more than one week ago, 69.8 cents higher than one month ago and 59.3 cents above what it was one year ago.
The cost to refine crude oil into gasoline, including occasional refinery production shutdowns, scheduled and unscheduled. Seasonal factors, such as changing from cheaper gas blends used in the winter, leading to a natural price spike in the spring. Spot shortages, sometimes caused by geopolitical tensions.
Gas does come from the same place - all gas trucks load up their fuel at the exact same terminals. What makes the difference between brands is the additives that are added to the gasoline. These additives are added to the fuel at the time the gas truck is filling up.
The dual tax on gasoline sets California apart: Most states do not have a sales tax on gasoline. Compare the current average gas price in California at $4.49, to lower-taxed southern states like Texas at $2.75, Oklahoma at $2.66 and Louisiana at $2.78.
The Midwest region is the only one to see an increase, due to the refinery outage in the Chicago area. Most regions saw around a 6-cent decline in the last seven days. Prices on the west coast continue to slowly move to the $4 line.
Rising demand for fuel helped lift prices for U.S. oil products by around 3% on Monday with diesel futures closing at their highest in 10 weeks and gasoline futures closing at their highest in eight weeks.
California's gas tax rises annually based on the Consumer Price Index. It is the highest of all states, surpassing Illinois, Pennsylvania and Indiana, according to the Tax Foundation. According to CalTrans, the excise tax pays for 80% of highway and road repairs.
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