Many Iowa motorists are grumbling today after gasoline prices took another bounce, rising ten to 15-cents a gallon in some areas. Triple-A’s Rose White says there may be several factors to blame.
White says high demand for ethanol on the East Coast and in Texas may be driving the pump prices up. Ethanol prices went over three-dollars a gallon in some markets in recent months. White says prices should be dropping, not rising.
White says trading markets saw prices drop in the past few days by 14-cents a gallon for processed unleaded fuel so hopefully, that will translate to the retail level soon. Triple-A says Iowa’s average price for regular unleaded is two-34 a gallon. A year ago, the statewide average was a dollar-95.