Business briefing: Local gas prices reaching $3 a gallon

The price at the pump in the greater metro area has been rising but is still lower than the national average.

Online gas-price tracker GasBuddy.com recorded the St. Louis area at $2.72 per gallon for regular unleaded gas over the weekend, which is 4 cents below average. Prices in the metro-east have hovered just below $3 a gallon.

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Consumers are stashing more cash. A new report finds Americans have put a record $5 trillion in bank money market accounts so they can make an instant withdrawal. Economists speculate consumers are perhaps still weary of the recent recession and not confident in the economy. Read more here.

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Two utility companies will divide the profits from the electricity to be sold from a new $730 million nuclear science facility at Michigan State University. CMS Energy Corp.’s Consumers Energy unit will construct a new substation and provide all electricity to the Facility for Rare Isotope Beams for 20 years. Find out more here.

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A 401(k) can be one of the best ways to save for retirement, but analysts advise these accounts should be reviewed once or twice a year. Account holders should adjust the allocation of their holdings to ensure the best possible performance. Learn more here.

-Will Buss, BND business writer

This story was originally published July 13, 2015 at 9:11 AM with the headline "Business briefing: Local gas prices reaching $3 a gallon."