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You are here: Home / Gas prices shoot up again

Gas prices shoot up again

March 13, 2002 By admin

Gas prices jumped dramatically yesterday, and Iowa Department of Natural Resources fuel market analyst David Downing says there’s a good reason prices rose about a dime in a day. A big refinery in Indiana has been shut down for five weeks. Downing says having that refinery and perhaps a couple of others shut down so close to the summer driving season makes the market nervous. The price of crude oil also rose above 24-bucks-a-barrel this week.Downing says gas is sold as a commodity, just like corn and soybeans, so that’s why prices fluctuate.Iowa pump prices are in the dollar-30 range, and Downing expects that’ll be the price for a few more days.

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Filed Under: Uncategorized Tagged With: Department of Natural Resources, Travel

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