Hold Onto Your Wallet, Gas Prices Predicted To Skyrocket

gas pumpNorthwest Iowa — Northwest Iowa motorists who are used to paying around $2.29 per gallon of gasoline will see that price rise sharply, according to a forecast from Triple-A.

Triple-A Iowa spokesperson Rose White predicts the price of gasoline will rise at least 50-cents per gallon between now and Memorial Day…and perhaps much higher than that.

On the plus side, White says there are no fuel shortages to worry about and crude oil inventories are up eight-percent from a year ago.

While Iowa’s statewide average gas price is now two-30 a gallon, White says it’s possible some service stations could break three-bucks a gallon by summer.

Among the state’s metro areas, Des Moines has the most expensive gas at $2.44 a gallon, while it’s cheapest in Cedar Rapids at $2.21. The statewide average of $2.30 a gallon is two cents higher than the national average. Iowa’s highest-ever average gas price was $4.02 a gallon in July of 2008.

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