Business & Tech
9:14 am
Mon January 7, 2013

Low Gas Prices Thanks To Extra Crude

Drivers in and around Kansas City will continue to see some of the lowest gas prices in the country this year.  That’s due to a surplus of crude oil in the area.

Tom Kloza is the chief oil price analyst with the independent Oil Price Information Service.  He says a concentration of crude from Canada, down through North Dakota, Missouri and West Texas create opportunities for local refineries.

"I think you’ll see the cheapest prices in the Midwest because you don’t have particularly high fuel taxes, but also most of the new crude coming from North America," says Kloza.

Kloza says it’s possible we could see prices as low as $2.75 a gallon.

Local gas prices are particularly vulnerable this year to the budget debate in Washington, environmental policies about so-called “fracking,” and the global economy.