Gas prices keep falling
Average retail gasoline prices in Iowa have fallen 3.5 cents per gallon in the past week, according to GasBuddy’s daily survey of over 2,000 gas outlets in Iowa. Prices in Iowa averaged $3.57 per gallon on Aug. 4.
Patrick DeHaan, a senior petroleum analyst with GasBuddy.com, said last weekend the country saw its biggest daily gasoline price drop since April.
“Over the last week, the national average has continued to see an ever so slow downward trend,” DeHaan began. “But the downward trend got a shot in the arm last weekend, as we saw the biggest daily drop (from July 25-26) since April when the average dropped 1.5 cents per gallon. Back on April 13, the U.S. average dropped 1.7 cents per gallon from the previous day.
“Further illustrating the downward trend, 5 percent of the country was over $4 per gallon Friday (Aug. 2),” DeHaan continued. “Last week, 7 percent of the country was over $4 per gallon.”
Prices in Iowa Aug. 4 were 2 cents higher than the same day one year ago and 16.3 cents higher than a month ago.
Meanwhile, the national average fell a cent per gallon last week to $3.63 per gallon Aug. 4. The national average has increased 14.4 cents per gallon during the last month and stands 3.3 cents per gallon higher than one year ago.