Average retail gasoline prices in Iowa have fallen 4.7 cents per gallon in the past week, averaging $3.34/gallon yesterday, while Storm Lake prices inched down slightly to start the week around $3.17. This compares with the national average that has fallen 5.6 cents per gallon in the last week to $3.51/gallon for superunleaded.
Including the change in gas prices in Ithe past week, prices were 5.4 cents per gallon lower than the same day one year ago and are 44.5 cents per gallon lower than a month ago. The national average has decreased 28.4 cents per gallon during the last month and stands 7.0 cents per gallon higher than this day one year ago.
"Even with Hurricane Sandy causing havoc on refineries and infrastructure in the Northeast, gasoline prices nationally have continued to trend lower," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "It goes to show how much more significant the Gulf Coast is to this nation's energy backbone when such a massive storm causes no major rise in the national average. The good news is that average prices will likely continue to decline, perhaps to $3.35/gal nationally by Thanksgiving. For those in Sandy's wake, fuel availability remains difficult."