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Gasoline Demand Drops In June For First Time In Years

Northwest Iowa (Radio Iowa) — Gasoline prices are around 50-cents per gallon higher this month than they were last year at this time, and that is having an impact on demand.

Rose White of Triple-A Iowa says it’s unusual to see the amount of gas burned by motorists dropping.

The drop in demand is only one of the factors that has led to a slight decrease in gas prices this week.

She says gas prices will usually drop from two to four cents a gallon with each one dollar drop in the price of oil. But gas prices here haven’t dropped down to their levels seen last year.

Summer driving often leads to an increase in driving and an increase in demand for gasoline. But White says drivers are making adjustments with the high fuel costs.

The E-85 blend is cheaper than the other blends of gas. South Carolina is the state with the cheapest gas, coming in at $2.58 a gallon. California has the highest average price at $3.17 a gallon. Here in northwest Iowa, as of mid-afternoon Tuesday, gas prices were within a few cents of $2.74 a gallon.

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