Iowans who are planning road trips may be concerned about gasoline prices, which typically spike during the busy driving season of summer, which arrives Monday. Rose White, spokeswoman for Triple-A-Iowa, says crude oil prices dropped earlier this month but have started to rise again.
White says, “During the last week, they’re back up to $75 a barrel, so we likely will see some upward swing in prices but nothing significant.” While crude oil inventories are slightly lower at the moment, she says the stockpile of processed gasoline looks to be plenty sufficient, so gas prices should remain relatively stable.
White says, “The good factor is, U.S. gasoline inventories still remain very positive, about eight-percent higher than they were at the same time a year ago.” Hurricane season starts in July and there are rumors gas prices will rise in anticipation of a severe storm season ahead. White says that’s a guessing game.
She says, “Right now, that’s just pure speculation and so there is some talk that while prices for crude will jump higher in anticipation of a hurricane, at this point, we just don’t see that happening.” White says the price for a gallon of self-service regular-unleaded gas in Iowa is now averaging $2.59. That’s down 22-cents a gallon from a month ago and is four-cents cheaper than a year ago.
The national average is $2.70 a gallon.