Iowa motorists need to brace for more foul fuel news. Crude oil prices hit a new record high mark in trading on U.S. markets today, which Triple-A-Iowa spokeswoman Rose White says could translate to another spike in gasoline prices.
White says crude oil prices went over 80-dollars a barrel due to a significant drop in crude oil inventories. She says the U.S. Energy Information Office reports crude oil inventories dropped by "a whopping" seven-million barrels last week. White says if the price per barrel stays that high, it’s almost certain we’ll see a reflection at the pump.
While crude oil has hit a new high, she says processed fuel prices only rose slightly, so there haven’t been any significant changes yet at the retail level. The current statewide average for a gallon of self-service unleaded is two-89. That’s nine-cents above the national average.