Average retail gasoline prices in Iowa jumped 12.7 cents per gallon in the past week, averaging $3.29/gallon for super unleaded at the start of the week. Storm Lake prices soared from a low of $2.86 recently to $3.12 at the start of the week. This compares with the national average that has increased 4.5 cents per gallon in the last week to $3.31.
Area prices are now 5.6 cents per gallon higher than the same day one year ago and 12.5 cents per gallon higher than a month ago.
The sudden leap in prices is blamed on a production hit at refineries, which are slowing down to perform maintenance and any upgrades before gasoline demand races higher for the summer season.