Gasoline prices in some Iowa cities took a big leap last night, in some areas bounding more than a dime a gallon shortly after the polls closed at 9 o’clock. Gail Weinholzer, spokeswoman for Triple-A-Iowa, maintains gas prices have nothing to do with politics and she says Iowa’s overall average has dropped a long ways in the past month.
“We’ve seen prices decline from just under $4 a gallon to just over $3 a gallon,” Weinholzer says. “In many places, they’re seeing relief anywhere from 60 to 80 cents, which is rather significant.” Iowa’s average price for gas is $3.32 a gallon, that’s fallen from $3.38 a week ago and down from $3.75 a month ago.
She says there are essentially three reasons pump prices have been in a free-fall. “We finished the switch-over from the summer to the winter-grade fuel and as a result, prices declined,” Weinholzer says.
“Secondly, crude oil is selling significantly below $100 a barrel, which is where it was at in August. Third, we’re past the summer driving season and as a result, demand has slackened off quite a bit.”
Despite the overnight bounce — like in Des Moines, where prices rose 12 to 14 cents a gallon in one swoop — she says gas prices should continue falling in Iowa for another few weeks.
“We continue to see a decline and will until Thanksgiving,” Weinholzer says. “We’ll probably plateau around that time and then perhaps drop again a bit before we get to the holiday season.” Iowa’s current statewide average price for self-serve unleaded is $3.32, that’s 14-cents below the national average.