Iowa gas prices down, probably not for long - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa gas prices down, probably not for long

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WATERLOO (KWWL) - Average retail gasoline prices in Iowa have fallen 6.4 cents per gallon in the past week, averaging $2.73/g Monday. This compares with the national average that has stayed flat, in the last week at $2.79/g, according to gasoline price website IowaStateGasPrices.com.

Including the change in gas prices in Iowa during the past week, prices today are 69.9 cents per gallon higher than the same day one year ago and are 8.0 cents per gallon higher than a month ago. The national average has increased 10.4 cents per gallon during the last month and stands 76.7 cents per gallon higher than this day a year ago.

"Oil prices have been reluctant to move higher than the low $80/barrel range as adaquate supply and lower global demand continue to weigh on investors", said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst. "The pause in oil prices has translated into retail prices that have remained virtually unchanged over the last week", DeHaan says. Don't expect stable gasoline prices to last long though. "Prices will continue to rise in April before peaking around Memorial Day to close to $3/gallon across areas of the country as cleaner burning summer fuels are sold", according to DeHaan.

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Online Producer: Jason Mortvedt

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