A Metro bus drives past a gas station Tuesday, March 8, 2011, in Tempe, Ariz. Oil Prices retreated Tuesday, as OPEC ministers discussed whether to ramp up oil production in the wake of the Libyan uprising. (AP Photo/Matt York) By Matt York
By Lakisha Jackson
ST. LOUIS (KMOV) -- Hang on to your wallets, gas has topped the $4 mark in the Metro East. The prices at many stations on the east side jumped late this morning. Some stations are already up to $4.09 per gallon.
Illinois taxes generally push gas prices in Illinois higher than Missouri.
Click here for a map showing the cheapest gas prices on both sides of the river.
Experts say unrest in the Middle East is likely responsible for pushing up the price of oil by $25 a barrel. Then, there are investment speculators, and not all of them are Wall Street titans.
“These are pension funds, these are well respected mutual funds that are all buying these products to protect their clients portfoliosfrom the potential higher inflation and slow growth that could come,” says Bill O'Grady of Confluence Asset Management.