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You are here: Home / Gas prices go back up for holiday

Gas prices go back up for holiday

November 20, 2006 By admin

Pump prices in Iowa have inched up heading into Thanksgiving. The latest Department of Natural Resources survey found the average price of gasoline in Iowa’s metro areas jumped eight cents — up to $2.16 a gallon.

Bill Blum of the D-N-R says despite a “strong” supply of crude oil, gasoline prices are going up as stations anticipate growing demand over the holiday.
“The pump prices that we’re seeing at this time are a combination of a lot of factors, primarily relying the retailers perceived supply and demand options looking at the holiday season coming up,” Blum says.

A D-N-R news release shows U.S. crude oil supplies on November 10th were nearly two percent higher than they were in early October, and four-and-a-half percent higher than at this time last year. But the prices for that crude were higher in the year-to-year comparison. One analyst says winter weather could be the key factor this year in determining fuel prices.

Blum says what happens in the Middle East will play a huge role, as always.
“We’re not seeing anything extraordinary at this time as far as the long-term outlook,” Blum says. “People can look back over the last several years and get a sense that as the international situation fluctuates, gas prices very well may as well, but we’re looking at perhaps over the winter some stability.” The D-N-R surveyed pump prices in 11 Iowa cities on November 12th.

The cheapest gas was being sold in Des Moines for $2.06 a gallon. At the higher end, gas stations in Dubuque, Iowa City and Webster City were selling self-serve unleaded with 10 percent ethanol at an average price $2.20. Diesel fuel prices continue to climb, too. The average price for a gallon of diesel in Iowa on November 12th was $2.61 — up 11 cents over the previous month.

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