The statewide average gas price in Iowa has moved up each of the last four weeks. While the increases are often due to increases in the prices of oil, Department of Agriculture fuels analyst, Harold Hommes (Home-us), says it looks like the recent increase is some profit taking by retailers.
The average cost of a gallon of gas was two dollars, 37 cents four weeks ago, and it is now up to two dollars, 59 cents. Hommes says the market hasn’t favored retailers lately.
The run up to Memorial Day and the start of the summer driving season traditionally has been a signal in the past for prices to start moving up as demand increases. But Hommes says that hasn’t happened recently.
Iowa’s average gas prices is eight cents below the national average, and 89 cents below one year ago at this time.





