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Gasoline in Kansas City cost about $3.70 Monday morning — up from $3.50 just a week ago. The bump has to do with seasonal gas changes and refinery outages driving up prices in the Midwest.
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The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
There are a few factors contributing to today's falling gas prices. ... Mississippi had the lowest average gas price at about $2.94 per gallon — followed by $2.95 Oklahoma and just under $2.97 ...
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On Thursday, according to the AAA, California had the highest gas prices in the nation at an average of $5.03 a gallon. Washington and Oregon followed at about $4.99 and $4.64, respectively.
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