Gas prices have been dropping faster than the temperatures in the last few days and Iowa is leading the way.

“In Iowa prices have retreated a whopping 41 cents-a-gallon — making it the leader in all drops across the U.S.,” according to AAA Iowa spokesperson Rose White. She says a variety of issues that had kept gas prices up in the midwest have all worked themselves out.

“The midwest states experienced a high increase in prices during September due to regional refinery issues, basic seasonal maintenance. And in October the prices continued to climb for crude oil,” White says. On top of all that, the amount of driving and fuel use slows this time of year.

She says the drop in demand also impacts prices and with the hurricane season now over, there’s good news for motorists at the pump. The statewide average price for a gallon of unleaded gasoline in Iowa was at $2.39 Tuesday. White says local factors lead to different prices in different areas of the state.

“We can easily see variances across our state of 60 to sometimes 70 cents-a-gallon, there are many factors for that,” White explains. “One thing we have to keep in mind for those rural areas, they do not have a lot of competition, but they might have low sales volume and as a result to maintain their cost, they do have to charge more.” White says the drop in gas prices will give Iowans and others a little extra cash.

She says Iowans are saving more than six dollars every time they fill their gas tank. White says more savings could be coming if crude oil prices continue to fall

 

Radio Iowa