Iowa pump prices continue dropping - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa pump prices continue dropping


Average retail gasoline prices in Iowa have fallen 2.3 cents per gallon in the past week, now averaging $3.18 per gallon.  This compares with the national average that has fallen 2.6 cents per gallon in the last week to $3.29 a gallon, according to gasoline price website

Including the change in gas prices in Iowa during the past week, prices now stand 29.4 cents per gallon higher than this same day one year ago and are 21.9 cents per gallon lower than a month ago.  The national average has decreased 13.9 cents per gallon during the last month, but still stands 35.5 cents per gallon higher than this day one year ago.

"Even as oil and gasoline futures rallied after strong Black Friday sales reports and a drop in unemployment, retail gasoline prices have mover lower," according to Senior Petroleum Analyst Patrick DeHaan. "I have a suspicion that as we near 2012, we may see retail prices climb slightly higher again on upbeat holiday spending, which is indicative of a healthier economy.  If we remember back to last year, positive holiday sales also led to higher gasoline prices as Christmas approached, which may play out again this year."

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