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_________________________________________________________________________Gas prices spike overnight in St. Louis area
Friday, March 25, 2011
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ST. LOUIS • The price per gallon of gasoline rose 6 cents or more across the St. Louis area overnight, an upward trend that could continue into the summer driving season.
The price for a gallon of regular fuel in St. Louis increased to an average $3.525 overnight, according to AAA auto club's daily fuel gauge report. Yesterday's average in St. Louis was $3.458 per gallon.
In East St. Louis, where Illinois' higher taxes push the price up compared to Missouri, today's average is $3.643 per gallon, up from $3.583 on Thursday.
The national average is $3.561. Last March, the national average price was $2.813.
Mike Right, a spokesman for AAA Missouri, said several factors are likely driving prices upward: rising demand, conversion from winter to summer fuel and instability in Libya and Japan.
The average in Missouri ($3.400 per gallon of regular) is still among the lowest in the nation. Only New Jersey and Wyoming have cheaper gas, AAA says. The price has already hit $4 in California.
The price of oil was trading today at about $105 per barrel; Right says rising gas prices are likely to continue climbing this year.
"The fundamentals seem to be in place for the prices we're lookng at right now to continue to ratchet up," Right said.
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