A drop in crude inventories is partially to blame for higher gas prices. A report issued by the Energy Information Administration says crude inventories fell by 2.2 million barrels in the week ending May 4th. Inventories are expected to decline further in the coming months following the announcement that the United States will pull out of the Iran deal. That volatility is moving crude prices higher.
That’s Michael Right from AAA. The average price for a gallon of gas in Missouri is $2.59 to start the day – up four cents from yesterday and 21 cents from last month. The national average is $2.85 a gallon.