Gas prices fall nearly 15 cents a gallon - KWWL - Eastern Iowa Breaking News, Weather, Closings

Gas prices fall nearly 15 cents a gallon


Average retail gasoline prices in Iowa have fallen 14.7 cents per gallon in the past week, now averaging $3.54 a gallon.  This compares with the national average that has fallen nine cents to $3.67 per gallon, according to gasoline price website

Even still, prices sit 9.3 cents per gallon higher than the same day one year ago, but thankfully are 29 cents per gallon lower than a month ago.

"Only one other time in the last few years have we seen the national average drop so significantly in the course of just a week, and that other time was in May 2011," said Senior Petroleum Analyst Patrick DeHaan. "Looking back at our data, we only see that prices dropped considerably more in autumn 2008 when the economy slipped into a recession. Given the circumstances with this latest weekly decrease- that it has nothing to do with recession- is significant."

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