Average gasoline prices slightly increase in Iowa

Average retail gasoline prices in Iowa have risen 4.7 cents per gallon in the past week, averaging $2.72 per gallon July 20, according to GasBuddy?s daily survey of 2,036 gas outlets in Iowa. This compares with the national average that has fallen 0.9 cents per gallon in the last week to $2.76 a gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Iowa during the past week, prices July 20 were 75.6 cents per gallon lower than the same day one year ago and are 2.4 cents per gallon lower than a month ago. The national average has decreased 3.5 cents per gallon during the last month and stands 81.2 cents per gallon lower than this day one year ago.

?After areas of the West Coast saw hikes at the pump, things are finally beginning to cool with gas prices declining in all but 15 states versus last week,? said Patrick DeHaan, GasBuddy senior petroleum analyst. ?While California, Arizona and Nevada all saw price increases versus a week ago, the tide turned late in the week when prices peaked and now are moving lower again.

?Refinery issues were primarily the catalyst for the increase, and unfortunately refinery issues now have begun to plague the nation?s mid-section, leading to increases in the Mid-continent region, but rest assured lower prices will be coming back in the weeks ahead. With oil nearing $50/bbl, there?s a very good possibility that by mid-fall, gasoline prices could fall under $2/gallon in a growing number of states,? DeHaan added.