Gasoline prices are gradually dropping in Iowa, but they’re still much higher than they were a year ago. The latest statewide Triple-A survey puts the average in Iowa at a dollar-87 a gallon for regular unleaded, down a nickel from a month ago. Triple-A’s Julie English explains why the prices are falling.English says “Crude oil prices have dropped to around 38-dollars per barrel and that’s down from the high of 42-dollars that we saw earlier this month. OPEC’s June 3rd decision to increase production always lowers the prices.” English says violence in Iraq and Saudi Arabia is keeping gas prices higher than they otherwise might be, but they’re still falling daily. She says “Many analysts expect that gas prices will continue to decline in the coming weeks but that we may see another spike before the summer is complete.” The average price for a gallon of gas a year ago in Iowa was a dollar-48.
