JEFFERSON CITY, MO, NOV. 19, 2004 -- The Missouri retail price for regular gasoline decreased 15 cents per gallon from last month, standing at $1.77 per gallon as of Nov. 15, according to a survey released today by the Missouri Department of Natural Resources' Energy Center.

The Nov. 15 price is 43 cents higher than this time last year. Retail gasoline prices are falling throughout the United States due to improved refinery operations, strong supplies of gasoline, which stand nearly 9 million barrels higher compared to last year, and a slight increase in consumer demand for motor gasoline, the Energy Center reported in its Nov. 18 edition of the Missouri Energy Bulletin.

The average retail price paid for regular unleaded gasoline in the United States was $1.97 per gallon. The agency's bimonthly fuels survey polled a selection of service stations throughout the state on the price of regular unleaded gasoline, diesel fuel, B-20 biodiesel fuel and E-85 ethanol. U.S. gasoline inventories decreased slightly for the week ending Nov. 12 and are reported at approximately 201 million barrels, a decrease of 0.4 million barrels from the previous week. Gasoline supplies are well within the 5-year average for this time of year.

Since Nov. 4, U.S. crude oil prices have dropped at the NYMEX, settling below $50 per barrel and nearing $45 in the past week. NYMEX crude oil prices set an all-time record high price on Oct. 15 at $54.93 per barrel. That is an increase of $22.98, or 72 percent higher compared to the closing price of $31.95 for the same date last year. On Nov. 17, crude oil closed at $46.84 per barrel.

For the week ending Nov. 12, commercial crude oil stocks were up 0.8 million barrels but down by just 1.7 million barrels compared to this time last year. With total U.S. crude oil inventories at 292.3 million barrels, crude oil continues to trend well within the 5-year supply band for this time of year, according to the bulletin.

U.S. natural gas supplies were estimated at 3,327 billion cubic feet (Bcf) as of Friday, Nov. 5. U.S. supplies are currently 8.7 percent higher compared to the 5-year average and the highest level recorded in the past 11 years. Natural gas for December delivery at the NYMEX closed at $7.28 per MMBtu on Nov. 17 compared to $4.87 at this time last year.

U.S. propane supplies are 0.1 million barrels lower compared to last year at 64.8 million barrels. Missouri's average retail price for propane was unchanged during the last week at $1.56 per gallon on Nov. 15 compared to $1.19 at this time last year, an increase of 31 percent.

The department's bimonthly energy bulletins are available online from the department's Web page at www.dnr.mo.gov/energy/transportation/fb.htm. The November 18 Energy Bulletin is available at www.dnr.mo.gov/energy/transportation/EB111804.pdf.

For more information, contact the Missouri Department of Natural Resources' Energy Center at 573-751-3443 or the department toll free at 800-361-4827.

For news releases on the Web, visit www.dnr.mo.gov/newsrel. For a complete listing of the department's upcoming meetings, hearings and events, visit the department's online calendar at www.dnr.mo.gov/calendar/search.do.