Light at the end of the tunnel remains weeks ahead as gas prices spike
Average retail gasoline prices in Iowa have risen 8.4 cents per gallon last week, averaging $3.54 per gallon earlier this week, according to GasBuddy’s daily survey of 2,036 gas outlets in Iowa. This compares with the national average that has increased 3.4 cents per gallon in the last week to $3.47/gallon, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Iowa during the past week, prices earlier in the week were 12.9 cents per gallon lower than the same day one year ago and are 31.1 cents per gallon higher than a month ago. The national average has increased 18.5 cents per gallon during the last month and stands 19.1 cents per gallon lower than this day one year ago.
“Unsurprisingly, the surge in the national average has continued over the last week,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “As refinery maintenance season is now in its prime, and will be for several weeks, motorists could see additional volatility at the pump should issues or unexpected problems arise with this period of maintenance.
“There tend to be glitches and issues restarting these plants, and the progressive switchover to various blends of gasoline complicates matters further. Then, as refineries get back online, the volatility will ebb, and prices will slow their climb- but all of that light at the end of the tunnel remains several weeks away,” DeHaan said.