Gas prices around Iowa are dropping to their lowest levels in months. Three months ago, motorists in the state were paying nearly four dollars a gallon. Today, some gas stations are close to going below the two dollar barrier.
Shannon Stewart, with Triple-A Iowa, says oil supplies are up. “The reason prices are dropping like a stone is that gasoline inventories have finally been replenished following the hurricanes,” Stewart said. Triple-A’s latest report shows the average price for a gallon of regular unleaded fuel at $2.34.
However, Stewart says it’s likely dropped 20 to 30 cents in the last 24 hours. “It’s hard to say how far we’re going to go, but hopefully things continue to fall to make it easier for motorists to handle the price,” Stewart said.