Gas prices edge up as retailers seek profit

Gas prices took a big dip last month, but have inched up a little in the last few days. Iowa Department of Natural Resources analyst David Downing says the price of a gallon of gas was 27 cents lower last month, due in part to increased supplies.Gas was down to an average of a-dollar-and-28 cents a gallon. But, Downing says the price snuck up a few cents again recently as retailers look for some profit. He says the wholesale price went up only a few cents, while the retail price moved up about ten cents.Downing says the lower prices apparently spurred many people to fill up and hit the road.Last week saw the highest demand for gas this year. The summer driving season won’t end for another month, and then Downing says gas prices could drop again.Downing says OPEC is talking about cutting its oil output, which could cause gas prices to go back up.