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Monday, May 2, 2016

Gas in SL selling above state average

Monday, April 28, 2008

When are gas prices going to come down?

Even the experts admit they are stumped by that question.

After reaching a record high price of $119.90 a barrel earlier this week, crude oil prices fell by more than $2 a barrel Thursday based on a rebounding U.S. dollar.

So where's the plunging price at the pump?

"Strong inventories and lowered U.S. demand, factors that typically push gasoline prices down, have had little if any impact on the prices this spring," said Jim Bodensteiner, an Iowa DNR expert. Speculation on crude oil commodities markets is pushing prices to record highs.

Storm Lake pump prices are running slightly above those of the state in general, $3.35.9 to $3.55.9 early Friday morning.

April gasoline prices in Iowa are averaging $3.40 per gallon of 10 percent ethanol, up 8.6 percent from March and 25.4 percent from April 2007, when gas was $2.71 locally.

Diesel is running $4.14 per gallon in Iowa, up 41.8 percent since a year ago.

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