Metro-East News

Business briefing: With fall approaching, gas prices will continue to fall

Gas was $2.17 a gallon Tuesday morning at the Gas Mart on East Main Street at Douglas Avenue in Belleville.
Gas was $2.17 a gallon Tuesday morning at the Gas Mart on East Main Street at Douglas Avenue in Belleville. News-Democrat

Gas prices reversed its historic trend of rising over a holiday weekend and actually fell as Labor Day approached.

Many metro-east stations continue to sell gas for about $2.18 a gallon for regular unleaded fuel Tuesday morning. That puts gasoline at many locations in Missouri below $2 a gallon, since Missouri’s gasoline tax is about 20 cents per gallon lower than Illinois’ tax.

St. Louis-area gas prices are almost $1.25 a gallon lower than a year ago, according to online gas price tracker GasBuddy.com. Senior petroleum analyst Patrick DeHaan projects more consumer savings by the holidays at the end of the year with a sub-$2-a-gallon average by Christmas or perhaps earlier.

A recent survey finds that 84 percent of future retirees believe their savings will cover their retirement while only 20 percent said they had more than $100,000 set aside. More than 10 percent said they had nothing saved for retirement. Learn more here.

Apple plans to unveil a new iPhone and Apple TV system that includes voice-activation. Analysts believe the announcement could reveal more about Apple’s strategy and aspirations to be an indispensable part of daily life. Read more here.

Media General is buying Meredith Corp. for approximately $2.4 billion in cash and stock. The deal will bring 88 television stations in 54 markets and media brands including Better Homes and Gardens, Allrecipes, Parents and Shape under one roof. Media General stockholders will own about 65 percent of the combined company, while Meredith shareholders will own approximately 35 percent. Find out more here.

— Will Buss, BND business writer

  Comments