Gas prices aren’t expected to drop anytime soon

There’s plenty of grumbling at the gas pump. Iowans have seen new record high prices set virtually every day since August 8th. Triple-A-Iowa spokeswoman Dawn Duffy says it’s very unusual for the prices to continue climbing a-nickel-a-day for so many days in a row. The current average price for gas in Iowa is two-49 a gallon, compared to a dollar-79 a year ago. Duffy says it’s not just Iowa, but nationwide, new record high prices are being set daily for the past week and a half. She says the situation likely won’t improve for several weeks, if then.We’re still in the busy summer drive time, with kids out of school and families taking vacations. Also, Labor Day is just ahead which will also be a high-demand period. Demand should drop after Labor Day and Duffy says it’ll be interesting to see if prices drop in turn. She says any little ripple in the system effects prices immediately, whether it’s fear of terrorism, labor problems at a refinery or the threat of severe weather. The prices are always slow to come back down due to uncertainty over demand. While Iowa’s current average gas price is two-49, the national average is 2-56. Iowa’s most expensive gas is in Cedar Rapids with 2-56, while it’s cheapest in Waterloo at 2-41.