Gasoline pump prices in Iowa continue slow decline

Average retail gasoline prices in Iowa have fallen 2.6 cents per gallon in the past week, averaging $3.50 per gallon May 18, according to GasBuddy?s daily survey of 2,036 gas outlets in Iowa. This compares with the national average that has not moved  in the last week to $3.62 a gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Iowa during the past week, prices yesterday were 51.4 cents per gallon lower than the same day one year ago and are 10.5 cents per gallon lower than a month ago. The national average has not moved during the last month and stands 5.0 cents per gallon lower than this day one year ago.

?The drop that we had observed in the national average weeks ago took a pause over the last week,? said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.

?Oil prices have perked back up, and some supply tightness across areas of the country helped propel wholesale gasoline prices higher last week, leading retail prices to hold steady instead of continuing to decline. The temporary stability in the national average will ebb over the next week or two, and gas prices will head down again as we approach Memorial Day,? DeHaan said.