The numbers are headed the wrong way on the signs in front of Missouri gas stations..
We’re starting to see some three-dollar gallons of regular gas being sold in some places, a reflection of e climbing prices for crude oil.
The Auto Club of Missouri keeps an eye on the petroleum market and its impact at the pump. Vice-President Mike Right says we might see prices of $3.25 to #3.75 a gallon later this year as the crude price tops $100 a barrel. A barrel is bringing about $90 now.
He says the domestic oil industry is not in position to stop the increases because full operations have not resumed in the Gulf of Mexico.
Right’s worst-case scenario says the higher prices likely will slow the economic recovery and in the process further retard fuel tax collections that are used for Missouri’s roads and bridges. He says Auto Club surveys indicate people already are becoming more interested in more fuel-efficient vehicles and carpooling.