Gasoline prices have dipped below a buck-a-gallon at many Iowa gas stations.David Downing is a fuel price analyst for the Iowa Department of Natural Resources.The price of crude oil’s fallen and demand is off. Downing says you shouldn’t expect pump prices to remain low, though, as the price of gasoline went up a penny yesterday on the wholesale market, and several refinery problems cropped up. He says OPEC is also looking at making more production cuts, so gas buyers are buying up cheaper gas.Last week’s state survey found the price for a gallon of gas ranged as high as a buck-20, and at that time Downing predicted the price could soar as high as two-dollars-a-gallon by this summer. Today, he stands by that prediction, as he says demand during the summer months will be higher than supplies.
