Fuel prices increase as supplies decrease - KWWL - Eastern Iowa Breaking News, Weather, Closings

Fuel prices increase as supplies decrease

DES MOINES (KWWL) - Gasoline prices increased for the first time since August 10, 2009, with the Midwest region having the largest gains. "Fuel supplies have declined by the largest margin in a year, leading to slight increases in pricing," said Jessica Zopf, Communications Specialist for the Iowa Office of Energy Independence. "Energy analysts are split over whether prices will rise or fall next week because the market did not respond to supply numbers as anticipated. Refinery activity has decreased, but if demand increased, there would be enough capacity to cover."

The October 16th average price of 10 percent ethanol blended mid-grade gasoline in Iowa was $2.37 per gallon, which is 14 percent lower than the October 2008 price of $2.74 per gallon of the same blend. The October 16th average price for diesel in Iowa was $2.61 per gallon, which is 29 percent lower than the October 2008 price of $3.70. For Iowa metro area averages, visit: http://www.energy.iowa.gov/Newsroom/fuel_price.html

Online Producer: Jason Mortvedt

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