A federal report predicts gasoline prices this summer should average two-62 a gallon, exactly where the pump prices are now in Iowa. Still, one industry analyst says the Energy Department report does -not- guarantee prices will level off. Rose White, spokeswoman for Triple-A-Iowa, says gas prices went up about a dime-a-gallon just in the past week.
White says crude oil prices have climbed to near-record levels, trading at 68-dollars a barrel, forcing up retail gas prices. She says Triple-A’s daily survey of service stations across Iowa finds the average price for self-serve unleaded is at two-62. That’s up 24-cents a gallon from a month ago.
She says it’s hoped prices will level out before the summer driving season arrives, which will almost certainly bring with it higher prices, since whenever demand rises, the prices follow. White says many factors around the globe can send gas prices shooting through the roof.
White hopes there are no major disruptions at major U.S. refineries and that there isn’t a big increase in the number of hurricanes hitting the Gulf Coast in the coming season. If either of those situations occur, it will translate to higher pump prices. White says the current pump prices are significantly higher than they were last spring.
White says our current prices are up 30-to-40 cents a gallon from a year ago. She suggests motorists shop around to find cheaper gas as some communities are seeing wide price differences over a few blocks of distance.
Related web sites:
Triple A fuel guage report