Could modest gas price increases now mean lower fuel prices in April, May?
Average retail gasoline prices in Iowa have risen 0.7 cents per gallon in the past week, averaging $3.58 per gallon April 6, according to GasBuddy’s daily survey of 2,036 gas outlets in Iowa. This compares with the national average that has increased 1.3 cents per gallon in the last week to $3.55 a gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Iowa during the past week, prices Sunday were 3.9 cents per gallon higher than the same day one year ago and are 2.8 cents per gallon higher than a month ago. The national average has increased 7.4 cents per gallon during the last month and stands 3.1 cents per gallon lower than this day one year ago.
“Gasoline prices have seen an ever so slight increase in the last week across a good portion of the nation, which is certainly good news for spring break travelers,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.
“For those who may be headed to California, they may be greeted with rising prices to the tune of 10-20 cents per gallon over the next two weeks. For much of the rest of the country, including Florida destinations, prices shouldn’t be holding many back from hitting the road. This spring has seen very little volatility so far, and if it remains that way, I may have to revise downward my forecast for gas prices for the rest of April and May, which my wallet would certainly love,” DeHaan said.