The latest survey from the state shows motorists are saving around a quarter per gallon compared to one month ago when they top off their gas tank.
Jessica Zopf is a spokesperson for the Iowa Office of Energy Independence . She says regular unleaded fuel with 10-percent ethanol is averaging $2.31 per gallon in Iowa. That’s down 25-cents from the survey in mid-June.
Gas prices have been falling across the U.S. for three straight weeks, with Midwest states like Iowa seeing the biggest drops. Zopf credits recent reports predicting a slow economic recovery. She says the news that the economic recovery may be slower than once thought has led to a dip in demand for fuel.
July is an usual time for gas prices to be falling. "We typically see an increase (in July) because of the summer travel," Zopf said. The average price for a gallon of E-10 gas in Iowa right now is down 41% from one year ago. In July 2008, motorists were paying $3.93 per gallon.