Crude oil prices are rising, but in an unsual situation, gasoline prices in Iowa are falling. Gene LaDoucer, spokesman for Triple-A-Iowa, says gas prices in the Hawkeye State have been dropping a few cents a gallon for several weeks, now averaging $2.77 a gallon.
LaDoucer says several factors are involved, like that refinery in Kansas that was flooded is now back in production, while other refineries in Minnesota and Montana that were down for maintenance are coming back online soon.
He says: “We would expect as the national price goes up, the Midwestern states will come down and they’ll meet at some point. After that, we’re hopeful that as we get further into the fall and winter season, we’ll see gas prices start to fall back again as we would normally see this time of year, however, those high oil prices may prevent that.” LaDoucer says gas prices could go down another four or five cents a gallon over the next few weeks before leveling off.