How gas prices have changed in Joplin in the last week (2024)

How gas prices have changed in Joplin in the last week (1)

Joplin, MO News

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Stacker

August 19, 2024

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)

- Diesel current price: $3.35
- Week change: -$0.01 (-0.3%)
- Year change: -$0.63 (-15.8%)
- Historical expensive diesel price: $5.29 (6/21/22)

Metros with the most expensive gas
#1. Lihue (Kauai), HI: $5.26
#2. San Luis Obispo-Atascadero-Paso Robles, CA: $4.87
#3. Santa Rosa, CA: $4.85

Metros with the least expensive gas
#1. McAllen-Edinburg-Mission, TX: $2.76
#2. Brownsville-Harlingen, TX: $2.79
#3. Tulsa, OK: $2.83

This story features writing by Dom DiFurio and is part of a series utilizing data automation across 371 metros.

You may also like:Highest paying jobs in Joplin that require a bachelor's degree

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How gas prices have changed in Joplin in the last week (2024)

FAQs

What is the reason gas prices went up? ›

Why are gas prices rising? Underlying the higher costs of gas are routine factors including refinery maintenance, the switch to summer gasoline and rising demand. Domestic supply is also impacted as refineries take advantage of milder weather conditions to do necessary maintenance.

What drives the price of gasoline Why does this change frequently? ›

The retail price of gas depends on four factors: the cost of crude oil, refining costs and profits, distribution and marketing costs and profits, and taxes, according to the US Energy Information Administration (EIA).

Did the pandemic cause gas prices to drop? ›

With lockdowns throughout much of the United States reducing driving, and with crude oil prices falling sharply, the average price for gasoline fell by almost 40 cents and the gasoline price index fell 20.6 percent, the largest monthly decline since November 2008.

Why do gas station prices constantly change? ›

“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.

Why did gas prices go up in Missouri? ›

Higher crude oil prices and increased demand contributed to the Missouri statewide average gas price surpassing the $3 per gallon mark this week for the first time since November 2023,” said AAA spokesperson Nick Chabarria.

What state has the highest gas prices? ›

Average gas prices are highest in Hawaii, lowest in Mississippi. As of Aug. 14, 2024, the highest average gas price is in Hawaii ($4.67 per gallon). That's followed by California ($4.60) and Washington ($4.22).

Who actually controls gas 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.

What changes the price of gasoline? ›

Retail gasoline prices are mainly affected by crude oil prices and the amount of gasoline available to meet demand.

What are the factors affecting fuel prices? ›

Key Takeaways. Gasoline prices are determined largely by the laws of supply and demand. Gasoline prices cover the cost of acquiring and refining crude oil as well as distributing and marketing the gasoline, in addition to state and federal taxes.

Why are gas prices dropping so dramatically? ›

Gas prices are falling because demand for fuel has weakened and oil prices have tapered off, energy experts said, an unusual set of circ*mstances for the summer season when fuel demands generally peak as more Americans go on road trips for vacation.

Do oil companies set the price of oil? ›

The price of oil as we know it is actually set in the oil futures market.

Will more drilling lower gas prices? ›

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.

What is the real reason for gas prices going up? ›

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.

Is gas the same at every station? ›

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.

Why are oil prices going up? ›

Rising crude oil prices in our forecast are the result of falling global oil inventories. We estimate global oil inventories decreased by 0.4 million barrels per day (b/d) in 1H24 and will fall by 0.8 million b/d in 2H24. Inventory withdrawals stem in part from ongoing OPEC+ production cuts.

Why did gas prices go up in July 2024? ›

U.S. Regional Gasoline Prices as of July 23, 2024

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.

Are gas prices going to go down in California? ›

We're on a downward trajectory,” Treanor said. “We foresee this continuing into the summer.” While the highest price for a gallon of regular unleaded gas in California was recorded in June 2022, with a gallon averaging $6.44, he said prices will likely not reach that high this summer.

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