Gasoline prices in the Kansas City area are tumbling below $2 a gallon, a level not seen since 2009.
QuikTrip, a big player in the area’s gasoline market, dropped its prices to $1.99 Friday morning at its stations on the Missouri side of the state line.
Mike Thornbrugh, a QuikTrip spokesman, said all of the 45 to 50 area stores in Missouri posted the price Friday morning. The higher gasoline tax in Kansas pushed prices at QuikTrip stores there to about $2.07.
Several ConocoPhillips stations in the area also were posting prices below $2, including some at $1.97 a gallon and lower, according to postings at GasBuddy.com.
AAA reported that the average price in Kansas City, on the Missouri side, was $2.14, but falling.
Michael Right, AAA’s vice president of public affairs, said Kansas City hasn’t seen $1.99 for an average price on the Missouri side since May 8, 2009.
This time around, other markets beat Kansas City to the benchmark.
“You’re a little late to the party,” Right said.
Springfield stations are averaging $1.99 a gallon, and Joplin saw $1.99 a few days ago, he said. St. Louis similarly saw $1.99 for an average price earlier this week, Right said, but it had jumped to $2.29 Friday.
Motorists have been watching pump prices tumble almost as fast as oil prices in the world market have been falling. A barrel of crude was going for $56.52 Friday after trading at more than $100 as recently as July.
Shoppers probably can confirm many economists’ assertion that cheap gas will help holiday budgets and revenues for retailers. And although lower gas prices are hurting oil companies’ stock prices, the economy broadly is expected to benefit.