2012 brought highest average gas prices on record - KWWL - Eastern Iowa Breaking News, Weather, Closings

2012 brought highest average gas prices on record


Gas prices in Iowa have climbed slightly in the past week, now averaging $3.15 a gallon.  The national average sits higher, though, at $3.27 a gallon, according to gasoline price website GasBuddy.com.

Current pump prices are lower than last month, but still almost a penny higher than this time last year.

With elevated prices across much of the country for prolonged periods, 2012 brought the highest average price ever for U.S. consumers at $3.60 per gallon.

"2012 was a year that focused the spotlight on our nation's oil refineries; it showed us the vulnerability of our infrastructure and what can happen to prices at the pump when infrastructure is compromised.  We began the year with a BP refinery fire in Cherry Point, WA that caused massive spikes on the west coast.  The spring delivered challenges for Great Lakes refineries and pushed Chicago gas prices to a record high. Similarly, the California summer saw major refinery outages there and new record high prices," said Patrick DeHaan, GasBuddy.com Senior Petroleum Analyst.

"Hurricane Sandy delivered a punishing blow to the East Coast causing refinery shutdowns, flooding and power outages.  The resulting fuel shortage triggered mile-long lines for gas.  NY gasoline spiked to a price level exceeding Honolulu and Anchorage as the highest in the U.S.  GasBuddy is proud to have been called in by NY officials to provide counsel and data identifying the most current retail gasoline price updates and trends throughout the NY metro area," said Gregg Laskoski, GasBuddy.com Senior Petroleum Analyst.

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