Analysts predicted gasoline prices would peak around the 4th of July holiday, then drop. Unfortunately, they were only half right. Gas prices rose just before the Independence Day weekend and are -still- creeping upward. Phil Wedgwood is a spokesman for Triple-A-Iowa.says the current average for regular unleaded in Iowa is a dollar-83 a gallon. That’s down from a month ago at a dollar-91 but well over where we were a year ago at a dollar-47. Wedgwood says a few months ago, Iowa saw record high gas prices around two-dollars a gallon, but then enjoyed several weeks of falling prices.After hitting a high back in May, prices dropped for about six straight weeks. He says the resumption of pump price increases is attributable to both strong demand and crude oil prices moving back into the 40-dollar per barrel range after staying below that level throughout June. Wedgwood says we shouldn’t hope for cheaper prices at the pump anytime soon. He says it appears prices will stay where they are for several weeks. While gas is averaging a dollar-83 in Iowa now, the national average is a dollar-90.
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